I understand the gov't is reducing housing caps in some areas as well as plug up this loophole for buying. 

I would offer her $130k and let her know that number will need to be reduced if black mold is discovered.

By reducing price the 6% you would have to pay a broker they may be able to afford the house...I did this once and I even took another $3,000 off the price for the upgrades I would have had to make prior to listing.

You would also likely reduce your living costs, allowing you to pay down more debt.I did a quicko glance at realtor.com and I see there are duplexes and triplexes available in Mesa for 150k and less.

Add to that the fact that the property probably feeds schools below a "6" on GreatSchools.org, and you have further reduced your pool of interested investors.None of that is said to discourage you, just to make you aware of the reality of the situation.  

In this case, county property tax collector.3) Record owner's tax account has been reduced.

Tenants stay longer, reducing vacancy costs, and fix-up between tenants. 

Definitely need to build outs in the contract so if it doesn't work you can get out quick.You need a business attorney to draft the partnership agreement etc. and also do the lease so you are protected.You will need to spend money upfront to protect your interest down the road and reduce damages.No legal advice given.

For one if you are looking at purchasing a $100,000 property and the listing broker has a 6% fee built into the deal you could either participate and get a 3% commission or choose not to participate and negotiate to have the purchase price brought down $3,000 (better IMO as its not income this way, but rather reduced price).

*It's generally in investors' best interest to have their competitors be represented by the same agent to reduce individual deal competition.