However, I'm not exactly sure what the tax implications are for your specific situation but an estate/tax attorney should be able to guide you in the right direction.My question to the attorney would be: - Can 14k of the loan be forgiven each year as a "gift" from my mom?  

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some posts with Books:https://www.biggerpockets.com/forums/12/topics/414...https://www.biggerpockets.com/forums/12/topics/414...The Ultimate Beginner's Guide to Real Estate: https://www.biggerpockets.com/files/user/brandonat...Dashboard: https://www.biggerpockets.com/dashboardBP Course: https://www.biggerpockets.com/courses

That is balanced by plenty of people below the poverty line. 

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Of course, you need to read The Ultimate Beginners Guide to REI here on BPIf you haven’t already, please read/listen to these books ASAP!

As an initial statement, while I am interested in perspectives on the Baton Rouge market in particular, this topic should apply equally to a great number of college towns and other similar markets so perspectives from other markets are just as welcome to discuss this issue.I am interested in starting to invest in rental properties and I am enjoying all of the guides, blogs and discussion topics which I have reviewed so far.

Definitely check out the Bigger Pockets Guide to Real Estate Investing by Brandon Turner.

Please guide me throughout.

I went through the course read the starting guides.