I don't see it as an issue but many still do, at least in my small town where the majority of renters are elderly people looking for low maintenance housing options.

My father did this in Portland on two properties, for elderly people I think. 

General Partner is elderly fatherb.  12 Limited partners - all children , spouses not included - cheaper by the dozenc.

The couple living there was elderly when I was growing up, and we recently found out that they passed away a couple years ago.

For context, the tenant is an elderly lady in her 70's who lives alone.

We go above and beyond when it comes to protection.. starting with insurance coverage, sings in the listing and in the property that there is no guard on duty (as silly as that sounds), putting extra locking device high enough so youngsters can't reach, an alarm/beep system to alert them that door opens for those with small children (or elderly) so they cannot wander out in the backyard with no one noticing and risk drowning.

Providing relocation assistance to tenants, for example, if I want to sell the property or move back in - this can range from one month's rent to thousands of dollars (e.g tenant has a disability, minor children, elderly it will cost you more), depending on the city.

The pros are all true, but the cons are they need to make it ada compliant and elderly friendly.

All the youth have left, maybe the elders are still there or they are deceased and the children don't want the property.

Posting for my elderly parents.Background: my parents bought their house in 2001 for $355K.