You need to take into account your long term goals, your short term goals, your resources especially finances, and your risk tolerance. 

Anything that would impact a lender's decision to lend money (yes, it is real money they are putting at risk, just as if *you* were lending to some dishonest person) is required to be disclosed.

If the FMV was 1K or even 3K over asking, nobody would want that risk for that small of a return.

I would make sure your mom is aware of the risks of a HELOC if you do go that route.

We've bought property that way, but it wasn't clean and there was a risk that there were debts or other judgements attached to the LLC that we didn't know about.

I would like to minimize risk, but obviously you have to take risks if you want to use methods like the ones I’m talking about.

We normally get it as a credit, unless it’s held by a 3rd party(pm).You can consult the lease agreement for each tenant, if the LL says someone only paid some or non, you need to get estoppel forms signed by both the LL and tenant, or just risk owning the tenant money they never really paid the LL.

I am still heavily involved in building/yard maintenance and turnover work,  but I leave all the stuff with legal risk (advertising, showing, leasing, enforcement, rent collection, deposits, etc)  to the PM.  

Depending on the purchase price of the note, referral fees can range anywhere from $2,000 to $10,000 and you are using other people's money because the investor is putting up all of it and taking all of the risk.

Usually when someone offers these terms there is a boat load of risk......either an over leveraged deal or some sort of pipe dream.