Helping Older Parents with R.E. Investing

[Peter Faulkner]

Hi Bigger Pockets Community,

Wanted to come to the forums to ask for any creative ideas about helping (or partnering with) family members using Real Estate as vehicle.

The short story is that my mother is getting up there in age. She also isn't in the best of health and periodically needs help with day to day activities.

She owns a very nice townhouse (2 bedroom & 2.5 bath) that is paid in full, but has a fixed (that is very limited) income from one piece of commercial property that her family gifted her many years ago. Her cost of living has very gradually increased (HOA fees increasing, cost of food, medical bills, etc.) but her income has basically stayed the same.

I recently did my first deal (14 unit multi-family) and she has expressed interest in using some of her very limited savings to partner with me on making further investments.

But my question is this: What strategies has folks on the BP Community used to work with their family to increase an elderly parents income? For example, maybe tapping into her equity to purchase another place? I don't exactly know... 

Was looking for something creative. Perhaps something we could both benefit from..

Thanks!

Peter