thanks Nathan, I am trying to work my way backwards i figure if attempt to stick to properties under $100k and increase my savings from my job by about $100 a year.

Are you actually going to take your mom to court and then attempt to garnish her wages? 

Seems complicated to even attempt to do with no prior experience.

If you are trying to get financing before the rehab you will most likely need private money since the current condition won't allow you to use traditional bank financing.After the rehab, if you qualify & if it appraises, you can attempt to refinance the existing debt.

To give some real world here, a "to-the-stud" reno, that is on par with a complete home build because building code says ALL exposed items and areas MUST be brought to CURRENT code, there is NO "grandfathering" of old code items on anything exposed, and an inspector will catch any attempt to side skirt this.

I attempted briefly to search the Real Estate Professional forum for a thread on this, but to no avail.

If ABC Home Loans stops doing cash out refis, no problem, she or he just sends the file to XYZ Mortgage instead (maybe XYZ Mortgage stopped financing 2-4 unit properties, or something else, instead of stopping the cash outs... each lender is attempting to manage this differently).

However, I have another link for you that's actually one of the better FAQ sources out there on this new law, and is one of the only ones I've found that at least attempts to answer that question.Here's the link: Fast Eviction Service - AB 1482: Questions and AnswersOn page 7 of the document that pops up at this link, you'll find the following question/answer:2.

I have a little background knowledge in REI from a brief attempt at wholesaling properties in Wichita about a year ago. 

My purpose in writing this is to begin to organize my own thoughts and research in attempt to begin for formulate a plan for future acquisitions.