Need to generate 5-6K cash flow per month to pay for nursing home

[Jason Dalka]

Hello,

My mother-in law has about 700K in her retirement accounts and has suddenly needed to go into long term care (about 8K per month.) We are thinking that rather than simply spend down her retirement funds to pay for this care that there maybe a way to invest in rental property in order to pay for a significant portion of that cost through cashflow generated from rentals. She would be comfortable investing about 350-400K into acquiring multiple properties to generate needed cashflow. We would like to acquire 10-12 units with each generating about $400-$500 per month in cashflow. Any suggestions on where to look or ideally someone has done something similar. Thanks in advance.  

[Marc Winter]

Get thee to an elder care attorney.