Since there is no debt there is significant cash flow that I need to maintain for the health and well being of an aging parent, so I will be trying to keep the payment within a range of 6-6500 a month.

I do not know about others but I have never, not ever put profits over human health and well being.

Call the local health department and find out who is responsible for housing code inspections.

Caveat- I have not specifically looked into this and this is not intended to be relied upon as legal advice.The best person to ask would be the county prosecutor in charge of environmental issues, or someone at the county board of health. 

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?

@Ned C. how does one get free rent claiming other problems with a house I would think this is only possible if there is a health hazard at the property but if they are claiming that then move out? 

Also, don't forget if you are giving them any other benefits like health care or vacation or sick pay, or 401k that will cost you more. 

It took me a while to shift out of the “hurry up and payoff debt” mentality.

If they are creating a health hazard, damaging the property, or interfering with the neighbor's right of quiet enjoyment, deal with it.

My mentality has always been, rent low enough where you don’t lose too much but have the tenants long term. 2) how do I approach offering a price increase?