My mom is selling her house
My mom is looking to move out of the city limits of Philadelphia and move closer to the suburbs near my family.
I was hoping to purchase the home from her and use it as my first rental property.
She owns the property outright. 3BR/2BA Dow Home. Properties in the area go for $240k. They rent for around $1750- $2000.
She is looking to move into a 55+ community where modular homes go for around $185k with $600 in HOA fees.
I am trying to see the following
1. Is it possible to purchase her home with a realtor.
2. what is the best way to go about it so we are all in a good spot. I have an rental property and she doesn’t have to pay a dime where she is living.
I was thinking of buying the home below value and and then with the rent, paying the mortgage and the alps paying her HOA fees for her
Thanks in advance!