But I buy whatever is on Craig's List that's coin-op for a good price. 

I believe OP said his property is in TX.

If not and mom is on title and has other heirs, the OP does not have the legal right to sell the property until probate is complete, and he may not be the sole owner after.You should be able to find the deed online on the county website land records and see how they hold title.  

If they can't spend $1k+/- a month on their data sources, they are NOT actively involved in CRE and have limited access to leasing data.Jake/OP If you find a REALTOR that is in commercial full time, has CoStar and does some leasing; that is a slam dunk, hire that person and pay their retainer to be your advisor.

So if you want you can PM me or we can have that conversation here for others to join in on but I don't want to distract from your main point in your OP too much. 

You'll come out ahead in the loooong run but a dollar today is worth more than 20 years from now.They do make a coin op version...you could always allow the current tenant to keep the quarters then switch for a 3/4 person household.

Either way, the OP needs to have a plan to pay it back.  

DSCR could be 0.8 for all we know, in which case OP is lucky to get any loan at all.

Instead of the usual $190/sqft and fees (just going off the OP's second paragraph), the deal  is $125/sqft with no fees (lets assume fixed price) with a performance award fee of half of the profit (lets just skip the definition for simplicity). 

A new shopping center/pedestrian mall is going up, lots of investing in property is happening, and a new food co op has gone in.