Would you ask for a non-refundable pet deposit and increase rent or just one or the other?  

Give her notice to non renew her lease.

You’d set the purchase price at the $550k you think it’s worth then set the gift at whatever amount will leave your Mom with enough to pay off her existing loan.

Another possible strategy that lowers the risk but also lowers the rewards is to keep your existing property and rent a house in Milpitas.

If you want lower your standards that’s your choice but be prepared for issues either with damage or non payment of rent and going through the process of eviction all while you’re collecting nothing and having to pay the expenses along with legal fees.

Personally, I also have nearly zero control of my stock market investments.Real estate on the other hand, APPEARS to be open to the non super wealthy among us, willing to put in the time and effort to learn the nuances.

Remember he pays all costs/legal fees for drawing up th emortggae.You need a significant non refundable DP to cover your costs if/when he defaults.

If you are confident you can close, you could put up a non refundable deposit to ease their losses.Talk to your lender, but it should be okay to make an offer with all units occupied, if one is on a month to month basis you would move into.  

@Randall CornelisonInterest only if you can.I.e non amortizing at all.

Just takes a few tools and an hour or two.If you are worried about using another wax ring, look into the non wax version (Sani Seal is one).