Just so you are prepared, if you pick up a 3-4 unit property using FHA as the loan, it must pass a self sufficiency test.

Hi Whitney,Talk to an attorney local to the property.You might be able to get a financial judgement (trebled).Step one might be to get three bids on (comparable) replacement systems.American Standard, Bryant, Carrier, Lennox and Trane are names of some furance and A/C (HVAC) manufactures.And realize a new furnace A/C (HVAC) might force you to change the thermostats too (or not).Trying to figure out costs on this yourself (with any resprayed insulation up there) might be pretty tough, (plus you have to buy whatever new refrigerant is required in your area--and the new stuff can be very very expensive).You might be able to pick the brand you like best, or the one fastest installed vs the cheapest...ask an attorney.Also, in a financial judgement, you have to collect...lien their wages or bank accounts (to the extent you are allowed to do so by THEIR Locality).

It may be difficult with all three under lease. 

It doesn't make sense to hold it for three years and wait for an opening.

Kept one of the three tenants.

The property consist of three units and I am occupying one of the units.

I bought three. 

Based on your mortgage and the potential rental income, you should have sufficient cash flow to cover insurance, taxes, vacancy, and maintenance expenses with some cash left over each month. 

I would find another property management company with all three interests (tenant, owner, company). 

When she gifts the real estate to you she needs to furnish your CPA with an appraisal for the property and you pay Capital Gains tax based on your mother's purchase price if you sell the property any time down the road.If you are asking about how to acquire three properties with some sort of transfers and/or loans we nee a lot more information e.g. the purchase price for each property, down payments, rental income, expenses, etc..