Also I think a typical home owner looks at this in a totally different way than an investor would.

Corporations are (or were) taxed at higher rates for both rental income and capital gains.3) For Canadians, a LLP was better than an LLC because the LLC could attract double taxation.

Its exhausting…..6.

Also seems to imply than an entity like an LLC would not qualify and thus require a 60 day notice.  

Plus, in most states, eviction of a tenant is actually must easier and less expensive than an unauthorized occupant. 

I was told that a holdover process is quicker than an eviction.

Without trying to be exhaustive on all the details, here are the basics:If you paid cash (including borrowed cash from HELOCs on other properties, lines of credit.)You can "cash-out" up to 75% LTV (70% LTV for 2-4 unit properties) immediately.

I think it's great that you are trying to help her, but from the business side you may end up paying for a charity rather than an investment.I would get quotes from contractors on the different jobs that need to be done and then pay her that amount.

I would be sure to have an attorney close it and get owners title insurance.Show the seller on paper exactly how much interest he will be getting and how owner financing will net him more than an outright cash sale.

Most banks do not participate in the purchase and rehab portion so private or hard money is usually the next best choice after all family options have been exhausted.