I just got under contract for this 5BED/2BATH w/mother in law unIt property where the numbers run great with almost $600 of net cash flow a month, which I believe to be decent for my first investment property, BUT there are a couple things I ran into and am seeking advice for. 1) During inspection, we found a few hazardous things on the property, that would need a $20k fix.

Forwarded message:Hello Joshua,My name is Chace Marigny and I was hoping you can help point me in the right direction(s) as to eliminate any errors as I go about helping turn my mother's recently flooded inner city Los Angeles home into a multifamily residential rental.

Anyways I am 24 Years old and my step mother Passed away April of 2017 she owns 1 Acre of Property (that I'm still currently living on) so since she passed I've been paying the Taxes on it to keep them from going Delinquent...

So here's the problem; I'm a merchant mariner and my girlfriend is a travel nurse. 

They are two college students but the mother is a co-signer.

So my mother recently passed and she invested several hundred thousand in a friends business and he was paying her a yearly return at 10%.

A couple questions I brought up was how can we protect it for them loosing to insurance companies or medical (nursing home) with declining health?

The office unit is currently 1700 sq ft of built out medical office space.  5 exam rooms, all with sinks and cabinets, two nursing stations, with sinks and cabinets, waiting room, administrative/check in area, large provider's office, large handicapped bathroom, handicapped ramp, plus a very large room with half bath on the second floor, that could be used as administrative space, or office space or staff break room. 

Mine was Mother , wife and kids.

However since they are older  what if one or both must go into a nursing home but cannot afford the $7K a month or more?