For cash flow, I'd recommend checking out the Triad (Greensboro, Winston-Salem, High Point) or Fayetteville in NC and Sumter and Florence in SC. 

The liquidity or funds for the purchase can be in your new entity or your personal bank acct.

However, about eight days later, the seller informed me that they had "changed their mind" and no longer wanted to sell.In the weeks that followed, the seller failed to provide the required documents, including HOA disclosures, the seller’s disclosure, and other essential paperwork, all of which were due within specific timelines per the contract.

Not just the current year amount on the listing.

With all the vegitation burned off the hills . 

You're in the right place to learn about real estate investing.

The lower rate or longer term can also make the payment more affordable. 

Can the agent provide comps?

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?

The tenant in common nature of the ownership would tell me that you would only be related to your mother in laws portion at the most.