Even there is no money down, you will need some reserve to pay for closing cost, loan origination fees, may be some deferred repairs and so on. 

Where have you accounted for property taxes or repairs/ maintenance or property management if you plan to go that route?

Hi,I'd like have an idea of average cost per square footage as far as a 1) light cosmetic fix, 2) full renovations and also 3) gut renovations in the San Francisco Bay Area...Thank you,Felipe

He could delay important repairs and not do them to make the financial statements look better. 

I want to remove my bias here, so I will stick to the facts:Home had foundation repairs done in 2008 and 2012Seller had a 3rd party engineer do a class C foundation inspection on 3.20.2018 and provided the following:Overall elevation differential of 4.1 inches.  

Rehab Costs Total Rehab Costs ($110,000.00) Total ($110,000.00)After Repair Value $575,000.00When I look at your report all the estimated repairs lines just say "N/A. "  So are you just guessing?

just because the house is 1/10th the cost doesn't mean the repairs will be 1/10th as expensive. 

Get an estimate on the repair. 

Don't cut your expenses short or repairs short.

If you buy and renovate I would try to find a Private Lender if she does not want finance that would include the funds for the repairs/rehab..