Watching someone run a belt sander over a cabinet door can show you how it's done. but when you try it the first time, you're likely going to learn how not to do it, even though it may look like the same technique.I agree with Jon. almost mentioned it, but what you can't see is how much pressure to use with power tools of how hard to grasp the skill saw or really how hard to swing that hammer and not dimple the wood.

I'm getting a home inspection (especially because the power's off, so it needs to go back on).

Another issue is checking on state requirements to do commercial lending, if you make a loan and are not in compliance with registrations, licenses or filings, your loan may not be enforceable, so you'll need to check and see if people off the street can make commercial loans.Drafting an operating agreement as a modification to the original or changing it is not a difficult matter for a business/RE attorney, it's an issues of the priority of capital contributions and one member having the power of sale.

You need a Limited Power of Attorney for the property and the sellers too.And don't forget maybe the most important thing!!!! 

@Sherrie Powers I've changed your subject line to be more meaningful.

I'd probably just make a fiduciary loan to her, once appointed with sufficient powers to encumber.

But if you can get 60-70% for yourself, more power to you.

Being a landlord has humbled me for sure, there is much that I have to learn if I want to be the DIY guy.The power of the internet is CRAZY, you can find anything through google.

Then if you have a power outage your basement will flood.

However, if your goal is to generate enough PASSIVE income to be financially free, what is your definition of passive, and what do you want to be doing with your freedom?