@Joshua Dorkin, @Brandon Turner, @Dave Van Horn, @Mindy Jensen,  and whoever else at BP is involved in publishing -- Amazon.com offers a fantastic service called WhisperSync that coordinates the Kindle ebook with the Audible audio edition of the same book. 

Now, the tricky part is that the mom has told my wife the house is hers but she has not signed the deed over and still controls the property.

Welcome @Robb Chamberlain,It's good to see more locals getting involved in real estate investing.

You will need a deed of trust and note - both are on the site.This should help with the family members comfort too, as they are state approved docs - best part is they are free! 

Turnkey can be a very good way to get started for an investor with little time to be more involved. 

Best part is you'll only be 33 (still young as can be).Just food for thought man.

Yes, there plenty of risks, bur before you even look at the risk involved, you will need to see if your house is zoned for a business such as a day care.This could be a problem in of itself...Chris

Are there custodians that take care of the first part as well so I don't have to deal with 2 parties?

Finding the deal is the part I am struggling with. 

While I've been involved in multifamily buildings in the past, I'm new to the commercial office/retail space, but am currently looking to purchase a smaller 5-unit property in town.While it's currently fully occupied, I'm always thinking ahead.