:)I've got 2 of that type project going on right now and I'd just say... it's exhausting.  

Without trying to be exhaustive on all the details, here are the basics:If you paid cash (including borrowed cash from HELOCs on other properties, lines of credit.)You can "cash-out" up to 75% LTV (70% LTV for 2-4 unit properties) immediately.

Corporations are (or were) taxed at higher rates for both rental income and capital gains.3) For Canadians, a LLP was better than an LLC because the LLC could attract double taxation.

A non owner occupied loan is significantly more risky than an owner occupied loan for the obvious reason that if you owned an owner occupied property and a non owner occupied property and were facing the decision of which one to let go, 9 times out of 10, the non-owner is the one to go.  

Most banks do not participate in the purchase and rehab portion so private or hard money is usually the next best choice after all family options have been exhausted.

Going through a bank two times can be exhausting and who knows, maybe your next acquisition may not be bankable at first.

I was told that a holdover process is quicker than an eviction.

Also take into consideration the type of property and compare: apt to apt, duplex to duplex, house to house (houses will get more rent than an apt).In our county, rental rates can vary so much depending on which street you are on, condition of the property, and amenities or utilities included in the rent.

Plus, in most states, eviction of a tenant is actually must easier and less expensive than an unauthorized occupant. 

I think it's great that you are trying to help her, but from the business side you may end up paying for a charity rather than an investment.I would get quotes from contractors on the different jobs that need to be done and then pay her that amount.