I think my first property should be near so i can gain experience as a property manager but I'm struggling with homes that are more affordable in surrounding areas (Pennsylvania, Delaware, I am a Delaware State grad, and prop taxes are almost nothing).Anyway.. there's my introduction (breathes fro the first time) :-)

You help her by taking it off her hands and you help you by gaining another income property.

In that case, I'd first gain some experience by doing a deal yourself so you can document lessons learned and profit made.

Given your situation and current market conditions, you should sell and take the gains and park it until you get things in order. 

Realistically I feel like wholesaling is a good way to gain experience, confidence, and a network.

Hello all, I am posting this to gain some insight and a variety of different ideas on how to fund my next deal.

Pass-through entities are Schedule C businesses, partnerships, S-Corporations, and rental businesses (Schedule E) and LLC's who are taxes as the above entities.The income from each entity is treated separately, therefore, a loss from one entity cannot offset income from another entity.Capital gains are excluded from the the pass-through deduction calculation.

Forth, if you live in the property for 2 out of the past 5 years you don't pay capital gains if you sell! 

Get a few deals, get your feet wet, while still gaining knowledge on LLC, S-Corp, etc, then pull the trigger.

We are hoping to make this a crucial learning experience, so whether we succeed, fail, lose, or gain, at least we took action.