Mooki: are you doing this primarily for emotional or financial reasons?
Forgive me if my following questions seem really direct. Know that they are asked with the sincerest wish to help you and your mom to the best possible outcome. It would be terrible if you were to drain your finances trying to do this, fail, and then not have resources to support yourself or your mom.
I have seen close friends try to do what you are doing for the sake of family harmony. They thought they were preserving the peace, but really when the fit hit the shan, the party with the good financial habits were shafted with massive responsibilities right in at the early stages of career building.
Worst case scenario? How long can you afford two mortgages if you can’t find a good renter for mom’s property? You think it’s hard dealing with losing one house you live in? Try getting rid a house in a jurisdiction you know nothing about. Think of the travel costs to go there regularly, because you’d want to go check up on how well the property manager’s doing his job, right? What about handling eviction of a bad renter by remote? Do you have time or energy or willingness to do this?
And if you think this will preserve family harmony, I invite you to consider past interactions. You say your mom owes you $25K. What will you do if she asks for more money for her living expenses when you are trying to float two mortgages? Will you be able to handle that situation as your best self?
Please, please be very careful. Even before you consider the details of implementation, are you enabling the best outcome for everyone with your plan?
