Renting to your mother would make it an investment property and eligible for a 1031 exchange.There is no statutory requirement for income production to make a property eligible for a 1031 exchange.  

(We personally do portfolio and single property loans and will be adding a HELOC product soon!)

@Edward Heavrin: Both options, but at a high enough equity you kind find long term mortgage products that will allow cross collateralization, so you can use those high equity or free and clear assets in lieu of down payment. 

Better quality product, better installation, and making relationships is invaluable if you plan to scale.

(the way the conventional mortgage was a root canal)I am probably going to pay cash for the property upfront and then finance it after the close, so I have some time to explore financing products. 

Please try to suggest products/services that you have used and like. 

The Vanderbilts who were as wealthy as the Rockefellers at the time did not use this strategy and eventually their net worth evaporated due to many things.Unless you have a license to sell life insurance and know how to structure the policy for the client's goals, you shouldn't be knocking products that can and do benefit MANY people -  especially those who have maxed out other tax deferred accounts.By the way fees are paid over the life of the policy, not all up front.

Your tenants are customers, properties are your product and reputation is your brand.

There are several STR insurance options nowadays.

A plumber told me that the primary difference between rheem product warranties was the size of anode supplied with the water heater.