House in Exchange for Health Care

[Milt D]

Hi all,

This is my first post on BP, and I hope to get some good feedback on a proposed transaction.

I have an opportunity to purchase a home in a nicer section of DC; what makes this an unusual opportunity is that the seller is motivated by longterm health care for his 75 yr old mother rather than by receiving a lump sum at settlement. Is there a way to structure the transaction so that I take over the property with a nominal investment and immediately refinance to fund the mother's health care needs for (up to) 10 years?

House is worth $950K ARV, currently around $700K.

Thanks,

Milt