Sounds like a tough sell; if she's sentimental about the house, she probably doesn't want to see it become apartments for strangers.I can't even convince my friends with no kids to live in duplexes... they are just too content to pay $1,500/month for the privilege of not having to hear footsteps above them every once in a while.

There are some loopholes allowing you access your retirement funds early, but you must plan for it. 

That house could easily be divided into a three bedroom one bathroom apartment unit and a second unit that is one bedroom one bathroom.

In any case, you really shouldn't need to ask us what to do with $1 million plus more to come - you should ask yourself "If I had access to $1 million in a credit line, what would I do with that money?"

I am looking at a 12-unit apartment building but it is in total disrepair.

@Pennie HeathIf you're looking into hanging your license just to do personal deals, you should interview local companies about being an investor and minimizing your fees or commission splits with the office.On a related note, you'll have to pay dues to the local board of realtors to gain access to the MLS.

What a realtor can do for a wholesaler:provide accurate and solid sold compssubmit contracts on the MLS on wholesalers behalfhelp them with access to properties(trust is needed for this)Feed them leads if they dont have a buyer themselves and get compensated for itWhat a wholesaler can give a realtor:Give a lead to a realtor if they dont have a buyer or need help moving the houseIf closing on a property and the wholesalers buyer is flipping the property the realtor can list the property as the selling real estate agentI could name a few more but I choose not to lol.

I'm looking into the multifamily apartments.

I worry that it may be an illegal addition, but a part of me thinks I should just make an offer and see what shows up on inspection. 

Whether it is a 50,000 home or a 5,000,000 apartment complex.