We owe less than 30k on our mortgage, we've owned it for 15 years, it is in both our names and has value. 10 years ago his mother deeded her house to only him, individually, for $1.

My mother has recently had a series of strokes leaving her mentally and physically incapacitated and I have power of attorney for her.

But I'm wondering how bad it is competition wise because it seems like everyone and their mother are rehabing homes these days.

You need not be torn when you have alternative solutions.Find your mother an affordable place to live.

After a 2-3 weeks, I finally accepted an application and sent the tenant the acceptance letter to a family of three adults and two children (husband, wife, wife's mother, and two boys).

I am fully aware that New York is very competitive when it comes to the real estate market, and for beginner investors, it can be quite tricky to find an affordable way to start out, especially when someone (such as myself) has little money to spare (I have several hundred dollars in my checking with several thousands that my mother put into my savings).

If you know anyone who’s credible in those areas, you could partner who do some creative financing rather than waiting a mother year.

Can you market an ADU as a mother in law suite in CA?

But since you are getting into it so young, you could find a small 2 family or single family with mother-in-law suite and live n the smaller unit/ rent out the larger one.

The house was vacant due to legal issues with the estate in the past with the owner and the owner's mother.