I would focus on improving your credit and obtaining a more stable income so that conventional financing is an option. 

(To avoid months of probate and thousands if not $10’s of thousands of dollars in costs.)Hawaii is considered a "TOD deed state," meaning that residents can utilize Transfer on Death (TOD) deeds to designate beneficiaries who will inherit their property upon their death, allowing for a potential bypass of probate court proceedings.If she is already in memory care center.

Listening carefully and asking open-ended questions like “What’s most important to you in this deal?”

This is one of the things that @Matthew Irish-Jones mentioned above - be careful about putting #3 on his list above #1 and #2.

This is a conventional loan where they also cover your PMI (private mortgage insurance).

Currently under contract for $552,000 with a conventional loan.

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

I don't care if 99 of 100 homes in the area have K&T, I would NOT buy it and leave it with K&T anywhere.

You're learning about the eviction process, tenant screening (never "word of mouth" again), the power of a lease WHEN not IF a neutral third party needs to be involved, tenant/landlord laws, and managing tenants who don't care about your business the way you do. 

Any kind of non QM financing will have higher closing costs compared to conventional.