Scenario is I have a small rental home that sits on a large lot in a neighborhood I would love to build in.

Hi, I will be in Tucson for a week or so to have a feel of the city and look at properties to invest in.

My son has a number of friends in Worcester and some of the neighborhoods aren't ones I would care to invest in. 

To the point @Paul Moore makes, there are several options to consider when diving in.

Tough decisions...but good decisions to have to make I supposeBe more realistic with CapEx (If property is newer or recently remodeled) - Another good one...the house I'm currently in I plan on renting when we move...so I'll already have equity in it and will have replaced everything that may need attention in the coming yearsManage it yourself for the first 1 year if possible - I plan on doing this in the long term.

Fishers, IN is doing well and equity is appreciating there. 4.

It might just be me but I don't think you mother would like to "gift" away $300k in equity just so she can continue to pay rent for a house she would still live in. 

Unfortunately, I live too far away to monitor how much time heputs in.

I have come across 2 duplexes and a triplex that we are interested in. 

Is this that good of a deal for them to own 2/3 and have no money to put in?