My limited experience suggests that it should be around $230-$240k, but I'd sure like a second or third opinion on the matter.

Now, the tricky part is that the mom has told my wife the house is hers but she has not signed the deed over and still controls the property.

Best way to offset this is to pay any credit cards before the statement cuts so they report zero balance and try to raise the limits thus lowering your overall credit utilization.

They are generally run by grey haired busy bodies and control freaks who have no understanding of their own rules or the law that governs them. 

The condo I did in Ohio was done about 10 years ago and we got a range with controls up front and a refrig that was accessible with ease....a higher toildet, lower bathroom sink and roll in shower...that kind of modifications.I am quite new here and sure would appreciate any ideas or cost estimate that you might know about.Thanks so much....Phil

Limit your exposures and variables by staying local.  

As George mentioned, you will have to work with solo 401 K providers like mysolo401k, broad financial, total control financial and many others.I moved my SDIRA money last year to solo 401K and I have full control now.

Every market is different, but generally I shy away from condos as rentals; you usually get little to no land, therefore your investment is in a slowly crumbling structure that you may have very little control over due to an HOA.

In fact you will always be better off have all tenants on M2M to allow you greater control over your property.

Please keep in mind all of this is just my opinion based on my very limited experience... so keep that perspective as you read.