Ervin, Most lenders would prefer you have some skin in the game. 

With your credit, they may want to see skin in the game from you and/or they may not give you any money for the repairs; or cash advances.

My name is Alex and I am a complete newbie to this game of real estate investing.  

Big fan of the bp community, website, videos and podcasts.

Ok, now that you have taken your initial step, below are some quick links to get engaged.Since you didn't mention an area of interest, I added details of the three most popular niches at the links below, for your review and selection of one or all.http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property) http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling) http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

I left nyc market because of some of these games the wholesalers and realtors do.

There are videos on youtube of how to fix it and shouldn't cost more than couple hundred for plumber to fix.

It's great for you to have the skills of tax accounting in this game. 

It can't all be fun and games!

If they will sell the note and she will quit claim deed her interests it's all a numbers game.