Terms of mortgage state that she get $10,000-$15,000 each year until her death with a cap. 5 percent mortgage.You can sell the note and recoup most of your costs.You make the monthly payments to the note buyer.

Can you address these questions please:What percent of the loan do I need to come up with?

I've had vendors who where great craftsmen with installing doors and such, but I would never pay them to paint a house in my lifetime.

I would give your plan a zero percent chance of working.

In a previous life time I spent a lot of time doing a great deal of business as a result of forums both learning and educating others.

You can be a "house hacker" and get financing that will include the renovation budget with about 3 1/2 percent.  

All but one of the seven houses I have bought and rehabbed so far are above 1.1 percent gross monthly ROI, which is the sweet spot IMO since interest rates are so low. 

. * On the sixth (6th) day of the month we charge a late fee of fifty dollars ($50.00). * If we do not receive your rent in full in a timely manner, we will serve you with a 3-day legal notice, “Notice to Pay Rent or Quit”.

In my opinion the the people who are paying 80 percent or more are people going for the low hanging fruit.I also suggest that you listen to all of the BP podcasts for ideas.

Shawn Torsitano HUD will price the home based on appraisal and rarely will counter or lower price within first two weeks but if they do its generally 1-2k or 10 percent.