First, if you are doing her a favor, you dont need to be driving there. 

When rehab is completed and the property more likely to obtain favorable bank financing, the IRA could convert some of the initial loan to equity and then the IRA and partner could seek a bank loan, but it would have to be non-recourse with respect to the IRA.Some banks will do a loan with a personal guarantee from only one of two partners, but that is not common.I suggest you and your partner engage an attorney to craft a way to work together. 

That's not to say there aren't pockets where you can see more favorable returns, similar to some of the suggestions the folks here have offered.Essex County has some good opportunities but be wary of the locations when browsing. 

California is definitely tenant pro, which I'm in favor of, however, when analyzing a rental property, you better be sure it pencils and increase your vacancy rate 5% to 7% on your proforma to be on the safe side these days. 

With all that being said if it's not already been agreed you will likely be legally obligated to honor the property management contract and the tenant contract until you notify them or intent to terminate or terminate and resign under more favorable terms for yourself. 

Why not stack the investing cards in your favor and invest where it makes sense? 

Definitely do not ask them to be your mentor, rather find a way to add value to their lives and they will be happy to return the favor.

Pick someplace that you can drive or fly to roundtrip in a day if you can or where you have some friends/family nearby to provide insight, stop by as a favor to you, or even serve as an "excuse" for you to go yourself when you visit them.Feel free to DM me with any questions.

No, they are doing the seller a favor by advertising upfront how incompetent they are and can safely be ignored. 

They're not doing you a favor by taking care of the house.