You should really talk to a elder care attorney/planner before putting it in his name. 

The elderly couple signed the property over to us we paid the $6k arrears & got clean title.

@Jared W Smith I'm purchasing the co-op for my elderly aunt.

I bow to the wisdom of the elder BP members.I ran a report that gave me the names and email addresses of all the agents who had listed or sold a house within a half mile of the one I wanted to sell.

Ya never know when some elderly landlord who hasn't raised the rent in 3 decades just wants out. ;-)

Currently I am looking for a cheap rated home near the lake Norman view for my elder sister. charlotte north carolina real estate for sale

the sellers are elderly. not sure they can refi. and hold a note. they need the money, 1 is moving into assisted living. the other needs to buy in adult community. i've seemed to talk my way into their hearts. they really want me to have the property. i would usually wholesale. but i want this for myself both to live and rent out (its a large multi family).

Do not do along term note with an elderly person, it can back fire on you.If they have kids, get them involved to the extent that they at least know what's going on, if your don't, you might have trouble.If they are in poor health, keep the note short so that the value of the note will be higher for the seller as they will likley need to sell it.Get with the seller's attorney!

If they want money, there's always hitting up Washington D.C. for more taxpayer's money or simply charging little elderly ladies excessive fees for writing over 5 checks a month.

One was the property of a young man that died suddenly and the other vacant for two years when the elderly owner died.