I’d imagine it would be by studying the history of the markets in that area and what happened during the last recession.

Raising money is not easy and we are arguably in one of the "easiest" times in history to raise private equity.

I also think if you get the right property manager that understand and have history of the neighborhood

Recently changing jobs to a larger agency, I know this probably wont reflect well considering a bank loan as they like to see history.

I check on past landlord history and have applicants provide verification of income -- bank statements showing direct deposits, statement of pension benefits, or signed employer verification form if still working, and contact landlords and employers before I have applicant pay tenant screening service directly for credit/background check. 

The reason I suggest you try this first is that you will be building your credit history while assisting your mother-in-law by getting her named removed from the mortgage.  

Since you wouldn't be able to provide me much history, I would likely pass - unless it's an absolute steal.

Two things...Las Vegas, the prime example of housing crashes and bubbles, has dropped more than 5% ONCE, in its entire history.

You can track all history, lock it at at certain temp and operate in economy mode when the unit is not occupied.

Do motivated sellers ask for credit history?