Try your best to take emotions out of your investing and really use the numbers to make decisions.

I just have to be careful to not let my emotional attachment to this property to go to far with the rehab (expensive materials, costly upgrades, etc), this would be the ultimately challenge for that.What are the pros and cons from your professional/experienced position about this situation (keeping it in her name for now) and would which direction would you recommend?

Just don't invest somewhere based off of emotions more so than for ROI reasons.

Auctions are tricky, it is easy for emotions to get the better of you.

Also, since it sounds like this prop is probably a pretty nice home and in a more owner-occupied area, you're likely to get an owner-occupant buyer, which means someone who will buy based on emotion, not cash flow calcs.

@Josh ThomasI strongly agree with @Nathan G.I know paying for a vacant place for 3 months in another market is eating at you and your wallet and who could blame you, but dont rent to these tenants on a emotional decision of being 3 months vacant and not wanting to go a 4th month vacant.

This is a great gesture and will go a long way with the tenants, especially if you are self managing.We keep space heaters in our office for furnace failures, but in a complete failure where that is not an option, I would recommend that they find a temporary place to stay until power is restored and let them know that the rent will be abated for the time that they are unable to adequately use the home.If you do lose power and are worried about frozen pipes... turn off the water at the main (if you can access it.)

The biggest question I had to answer for myself was, do I want to help people find their first home with the emotional side of things OR do I want to help other investors find their first second third, 100th deal. difference is the emotional RE agent or the analytical RE agent.

I know investing emotionally will lead to losing money quickly.

Don't get emotional about the place, if you can make something and learn a lot, SELL IT