This card also has a credit limit of $30,000. 

Do not cut any corners or take any chances.Nobody I know can tell you what the future holds and how it will not hurt you. 

Once I got my first mortgage my credit score shot up 63 points.

As Nathan mentioned, I would make sure you have created a rental criteria that outlines income and credit requirements as well as how you will treat those with a criminal background or eviction history.

Hope you have a lot of savings for that and awesome credit .

Will Glaeser Lenders want to have your income (tax return, pay stubs, w2), credit, experience, bank account, LLC operating agreement, purchase agreement, scope of work, market comps, property evaluation, exit strategy.

If I hadn't had the cash, I also have a line of credit available for things like this; however, I would have been in trouble if I were new investor with no reserves. 

I'm looking for modest homes - under $150k - I have "good" credit - and only a small amount of monthly debts. 

I think we have a leg up on a lot of places already.Hope that helps a bit - I dont even know if many elder law attorneys will understand the medicaid system very well - they may, but wouldnt hurt to talk to one and if the facility his mother is at has decent staff and the facility takes HCBS residents the executive director there should be able to help a lot as well.

@Rob Sawyer Credit Unions would be a good place to try, they have more flexibility than National Banks.