If the property is turnkey i.e. fully rehebbed with all major items like roof, plumbimg, electrical and mechanicals etc. updated you may need very little cash reserves at least initially for a few yrs so you mighe be ok.Having said that I would recommed having some cash as reserves or have way to pay for things in case if something comes up with the rental or in your personal life for that matter.

She has lived in the property her entire life and inherited it from her parents.The duplex is very old and has not been well maintained.

I've always been searching for a way to get ahead in life, something more than living paycheck to paycheck.

@Kendall Vrana, he's a bum who was afraid because his life is terrible and going downward. 

I'm trying to find out information for my mother regarding a Whole Life Insurance policy she has.She started this policy roughly 10 years ago (I had no idea this whole time) and is in her early 70's.

You want them owing as much as possible to cripple their future life. 

while increasing , they are still historically lowincreased rates will lower buying powerI doubt we will see 3% rates again in our life time.

The bad ones talk a good game and will take money and make life terrible...

It's simple nothing complicated and will make your life a little easier.

However, until I have a property inspected and know the current condition and life expectancy of all major components and appliances I will not lower it.