They both have reached the age of being admitted to a nursing facility.

If this guy might be heading to a nursing home, stay away from a life estate, convoluted deal, his home is exempt when attempting to qualify for state medical benefits to pay his nursing home bill, you could end up getting him kicked to the curb later on.Loan him the money to pay the taxes or just pay them as he will owe you the tax bill.

If you, the wheeler dealer, pro RE investor type convinces a seller to enter into a loan agreement you devised, make no mistake, your tail is flapping in the wind too.People can agree to all sorts of things, they may or may not be legal, if the parties reach the conclusion desired, no muss or fuss, everyone is happy.....okay.However, individuals unlike corporate entities suffer from what is called "life events" these are events that happen to individuals, they die, the go into a hospital or nursing home, they get divorced, they take bankruptcy, they get sued, they go to prison or they might even talk to someone like their attorney about something else and mention an arrangement.These life events usually cause other eyes to begin looking at financial dealings, any life event can cause a financial matter.

Then I target the workplaces and schools.For one near a hospital I've gotten a friend of a friend who worked there to put a flyer on a break room bulletin board - ended up renting to two nurses.

It would be worth a fortune.Imagine the psychological lift for those in drab hospital & nursing home rooms.

If he gets to the point he needs substantial medical care and needs to have the gov't pay for him in a nursing home.  

The new resident is a nurse.  

If only landlords and physicians were as good at protecting their rights and bottom lines as nurses or the union!

I am general contractor and a registered nurse.  

That's tough man, I actually have a tenant who is constantly going in and out of the hospital and depends on nursing aides and other people (they come over a lot).