House hacking would enable you to have a lower downpayment %, plus lowers the reserve requirement to 1-2 months. 

Offering the equity of additional property is typically not a supplement for putting cash into the deal.

In my opinion, a real estate license will enable me to work as a bird dog, making commission on every referral that I do.

I currently work in the Supplement/Sports Nutrition industry and have a background in health insurance. 

(I have none right now) I've found out that my business expenses on my tax detail from last year were a bit too high to enable an approval to refinance.

If it's below what it should be raise boiler temp and if not she can supplement with electric heaters at her cost. 

We are in cash even though there is no return today cash enables you to quickly take advantage of an opportunity if one arises.

Medium term goal is to generate enough passive income to modestly supplement our incomes.

If the latter, you would have to supplement all funds needed to make the purchase above the amount the lender is willing to lend against their value of the property.  

They are not yet in foreclosure as far as I know, and I don't know at what point they'd go into foreclosure, but surely they cannot continue to live in the house without paying taxes and have there be no consequences.My wife and I have advised her mother not to pay the back taxes on the house again, because that would only enable the "ingrates" (as my wife calls them) to continue on as they are, and my mother-in-law is retired and on a fixed income, and she simply can't keep forking over a couple of thousand dollars every couple years to prevent the loss of her family home.So.