There are loan programs that would allow you to potentially use that income toward the loan but it's not possible to determine your ability to purchase without the detail that an official loan application brings.Also, don't worry about your credit until you meet with a banker and find out if your current credit will not work. 

@Brett Peters can you provide more details.

Happy to provide more detail!

Would love to get some more details on your experience there.

Need more details on your deal,Are you doing vacation Airbnb type deals?

The scope of work for the job needs to be very detailed, you also don't get the full amount as they hold some back as contingency.  

I can give you a lot more detail if you like.

I want a detailed plan that I can begin putting out for bids or partnering with exclusive commercial contractor? 

My original estimate was around $40,000 for repairs but I think that is too low.I realize there is more information needed for you all to provide detail guidance but looking for those that have had experience with older homes and did you build a bigger contingency for repairs.As always appreciate all your feedback and thank you in advance,Rodney

I’d do right by my family first, which means a detailed conversation with my mother that focuses on her situation and her wants and needs.