You're just enabling her by allowing her to remain which will, of course, ultimately result in her death.

The remaining 50,000 is then split up with the 3 people on the team.

Also, in the case I got approved for a second FHA loan, the first would remain in place, correct? 

The multis cashflow roughly $500/mo each, and we have additional HELOC money to fix anything needed and just plan to use the maintenance, vacancy, and profits to pay back the HELOC (hopefully in 3 years) and plan to BRRRR a property with the remaining capital once we find a deal that works.

But a cool dynamic nevertheless (w/ plenty of grit remaining..)

Reason being if one roommate moves out you want the remaining roommate(s) to be able to cover the rent. 

With these updates I am confident I can get the ARV to around 400k.Now to the seller financing structure:purchase price- 300ktaxes- $900insurance $100Over 5 years (60 months) make monthly payments of $1,000 (60k) (Assuming 0% interest and 0 down payment being the wonderful grandson I am)I attempted to use the rental property calculator to analyze but this deal is a little out of the ordinary.After those 5 years do a cash out refi to pay back the remaining 240K and assuming it will be valued in the 400k range I could pull out some more equity to buy more properties.I plan to do the renovations within the first month and getting renters in there asap.

In your example you're buying down by $25K so you would pay tax on that amount but would shelter the remaining $125K of gain.  

Romney will appoint a new finance guy and it will remain close to free money for the banks as it is now, the fed can't get any lower.As to confidence as mentioned above, that is an opinion, I'd ask why the DOW is busting a gut through the roof if investors were really hiding....that's not correct, IMO.Don't let political claims cloud your judgment, it will take time to get out of the mess the pubs put us in.

:Also having a general contractor who does the entire thing for a fixed price will save you lots of time and headaches; even though it maybe a bit more expensive but in the long run I think it is well worth it.Keep in mind that rarely does a fixed price remain that price throughout the entire renovation...As the renovation gets underway, the GC may find surprises that were previously unknown and will want to charge for those surprises.