Otherwise, as long as the neighborhood allows rentals and there's "good cash flow" I'd carry on.

You send the daughter the charge for the rent, if she does not how to carry out the transaction, then she should forward it to the mom and let mother pay for.

For those landlords requiring renters to carry renters liability insurance, I am curious what you require in roommate situations (unrelated occupants on a joint lease). 

(Lack of attention to the gutters led to damaged siding) One last thing about this deal, the current mortgage on this property IS assignable, has no due on sale clause and the seller has told me that she is more than willing to carry the note, so long as it’s not more than, say, 10 yrs.

A builder has carrying cost for land, material payments and labor expense - on top of that the building is not usable during construction.  

If you get the home free and have no or very low carrying costs, you should at the very least be in a 50% cash on and in some cases more like 100%.

Purchase price (inc closing): 130,000 75% loan = 97,500Renovation: 25k - update kitchen and add a dormer turning top floor into a proper bedroom (currently being used as one as it is)ARV: 190kPotential rent: 1650 - 1900 (friend has property on the same street that rents on the higher end of this range)Montly cost = 600 (capex, repair, tax, management/tenant placement, insurance, buffer)initial invest 25% down  + closing + construction = 32500 + 4000 + 25000 = 61500 + carrying costs until its rented (2 months)Refinance @ 70% based on 190 = 133,000 Money pulled out = 133,000 - 97,500 = 35,500; So would I essentially be leaving around < 30K (based on 61,500 + carrying costs) in the deal and the future returns are based on that number essentially?

While it is important to do your research on tk companies, I think many investors get carried away by trying to find that perfect company with a perfect track record.

Purchase price (inc closing): 130,000 75% loan = 97,500Renovation: 25k - update kitchen and add a dormer turning top floor into a proper bedroom (currently being used as one as it is)ARV: 190kPotential rent: 1650 - 1900 (friend has property on the same street that rents on the higher end of this range)Montly cost = 600 (capex, repair, tax, management/tenant placement, insurance, buffer)initial invest 25% down + closing + construction = 32500 + 4000 + 25000 = 61500 + carrying costs until its rented (2 months)Refinance @ 70% based on 190 = 133,000 Money pulled out = 133,000 - 97,500 = 35,500; So would I essentially be leaving around < 30K (based on 61,500 + carrying costs) in the deal and the future returns are based on that number essentially?

Can someone share their insight on the financials of carrying a note vs getting the big pay day now.