where you need to have a steady stream of income in order to get approved for the HML?

They get special pricing because the contractors know there is a steady stream of work coming in from one source. 

I believe the property is already fully paid off as well... it is a main passive income stream for MIL and we (wife and I) want to make sure she maximizes the throughput of that passive income.Do I start w real estate attorney ?

I always wanted to someday own a building and get a passive income stream.

They are working on zoning allowances for townhouse development, and many of the duplex lots are capable of hosting 4+ units once the developers stream in.

@Michael Randle  yes the student loan payoff is tempting, its on 6.4% interest but i pay only around 450 a month. idk, i hate paying off loans.. my thinking would be why dont i put this little cash I have and buy something quick like my first place around 100k and rent it so i can get that 200-300 cashflow so i now have another income stream.

@Sara Abernethy - I'm 35 and the hubs is 43.

Look to see what, if any new businesses are located there (job growth).Then I take a look if they are in a major transportation hub.

You have to continually do new ones to keep an income stream.

Regarding the market setting rates I would urge that anyone wanting to use a cap rate get full details of the income stream used to derive the reported rate.