Freddie Mac allows you up to 6 mortgages with an 80% refinance based on appraisal(new rule just changed this week), so in markets like Memphis where the acquisition cost is low she can actually use a turnkey provider as Charles Moore was suggesting, acquire a home below market value(using a private lender) which is renovated and rented, and then refinance it which would create a very low out of pocket cost situation for her.Depending on how serious she is about doing it, or how committed she is to reducing her tax liability, she could(given her age, I am assuming she is retired) structure her real estate business where she could qualify as a 'real estate professional', and this would allow her to depreciate things like her 'home office', which is a specific amount of square footage on her primary, as well as take the mortgage interest write offs on loans plus depreciation, and other goodies like meals(when applicable), maintenance, and so on. 

What would a 3 bedroom that is bran new inside rent for in Jersey City Heights that's around Charles St. between Summit and JFK Blvd?

To add on to Charles' thought, what helped get me over the fear factor was looking at each strategy as a process.

@John Thies he is in St Charles, I pm'd you the contact information

Sometimes we have to kiss a lot of frogs to find our Princess/Prince;-)

You really do have kiss a lot of frogs before you find your prince in this city, and if you do you can make it work.

Kiss on enough frogs and one is bound to be a prince......This week my partner and I are working on a home with a ballance of 397,000 on a first and second both not performing with a value of 620,000.  

I own 3 houses in Maryland (2 in Calvert where I live, and one in Prince Georges Cty) and 3 in Ocala Fl, managed by my son.In addition to  buy-and hold investments (which I'm really familiar with), I am interested in learning more about hard money:  what it is, how it works; how you create those connections, and plan to mine Bigger Pockets for all it's worth - I look forward to participating in the forums!

Understand and apply alternative creative financing and control and roll by public auctions.Wishing you good luck,Charles

I market to homeowner's in Prince George's county, MD.