Other option would be her doing a cash out refinance on her home and using that money to purchase with cash.  

If you were my client and after truly diving into the why’s, if it still doesn’t make sense, I’d cut it loose and deploy my money elsewhere.I agree that real estate in general is a long term plan - but I like my money to make money.

Who pays the earnest money to the title company?

It is all about your comfort level, but for me and many others on here they will note your better off investing that money in a deal and learning that way then spending large sums of money on gurus.

Because everybody has a different way of financing (or not), so p&i are deducted extra to the "Rule"]...

I've got a great supplier/installer here on the Coast.I'm not familiar with the Magee market, but a quick MLS search shows no active rentals on market in town.I've learned the hard way on the BRRRRs, if you go ahead and do everything (within a reasonable budget) Roof, HVAC, windows, kitchen bathrooms, you'll save yourself time/money down the road.Good Luck!

Most hard money/DSCR lenders don't lend in South Dakota, so I can foresee a low closure rate on deals since financing will be difficult to get.

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Specifically, I recommend purchasing a single family house with as little money down as possible, and converting the property to a rent-by-the-room investment.

So I paid a tax pro to do my return, first year was fine, this year she took my money and ghosted me.