Further, this type of operation is not financeable at anything other than the high end of hard money rates.   

I am going to lose my mom if I don't find a way to ensure that she never returns to that job again.

@John Mason that’s like saying I lose money on every deal but make it up on volume 

The seller is getting his money from my 2nd or third on the property.

Save more money too you will need reserves even if you can get a low/no money down option.

Honestly if your DTI are at the limit already and your parents need the money, sell it.

Blaming Loopnet for an allegedly bad property manager is like blaming Zillow for an allegedly bad realtor...I'm sure if Loopnet was stupid enough to give ransom money to BBB, BBB would take down the bad reviews and un-filter any good reviews (which is the entire business model of BBB).

If you have the money find the top player for sub to in your area and partner up with them, just make sure you got a great attorney to help structure the partnership.

Its a great way to start investing and save more money to get your next house.

I believe that the only way small investors can provide affordable housing and make money is not by investing in affordable housing by itself.