Here’s the plan:Pay off the mortgage entirely using our own funds.Transfer the deed into our NC-based LLC that we’ve formed for holding real estate.Formalize the loan agreement so her mom repays us over time while continuing to live in the home.Eventually convert the property into a traditional rental when her mom moves out or passes.Possibly tap into the equity via a HELOAN or cash-out refi to fund improvements or future acquisitions. 

By doing so I will reap this theoretical return and get bonus cash flow by eliminating the principal portion of the loan.

I’m developing a commercial building in a country in West Africa, and would love your insights on its profitability and financing approach.Project Summary:- 950 sqm corner plot under a 40-year ground lease- G+1 commercial building with 36 shops, a prayer room, and rooftop ad panels- Located in the capital's market zone — very high foot traffic- Initial investment: the equivalent of $USD 930,000 in local currency which includes the 10 years of prepaid land rentRevenue & Occupancy:- Annual rental revenue (Year 1): the equivalent of $USD145,000 in local currency- 7% shop rent increase every 5 years- The annual revenue assumes 100% occupancy, which is typically reached within 1–2 years in this area due to high demand and visibilityOperating Expenses:- Recurrent yearly expenses total USD$20,000, covering: Security, maintenance, generator upkeep, insurance, taxes, repairs, and contingencies- Land rent restarts in Year 11 with a 10% increase every 10 yearsFinancing Scenarios:- With loan (USD$550,000 at 7%, over 6 years)   → Break-even in Year 12- All-cash (no loan)   → Break-even in Year 8After breakeven, the project produces pure cash flow for 28–32 years. 

Most reasonable people won't leave a house they like for something cheaper if it's only marginally cheaper, but if you raise rents and there's plenty of supply out there for a lot cheaper you're going to have a vacancy.

Highly recommend checking out some of the local investor meetups. 

Purchase price: $122,000 Cash invested: $80,000 Sale price: $278,500 Large Colonial-style home that needed much work.

That’s a great way to learn fast.If the returns on those marketplace deals are making you want to jump in with your own cash, that’s a good sign — but like you said, the key is making sure you’re not missing anything that a more seasoned investor would catch early.

Purchase price: $250,000 Cash invested: $60,000Single-family home, originally 3 bed 1.5 bath.

There are alot of moving parts in flipping and out of state is even more challenging.

I moved to California and am renting it out of state.