@Mindy TempletonI am in a very similar situation and I am going for seller financing as the owners of the 5plex I am pursuing are an elderly couple.Could you please let me know how your deal turns out?

Both properties were off market at the time that I covered them and I just reach out to the owners and negotiated deals with them both elderly gentleman How did you finance this deal?

It's not a money-maker for the County & it's a hassle for the staff so there is no motivation to seize & auction the property if they can work with the owner.If the County could profit $millions in real estate auctions it would be rather tempting try to sneak the property off to auction without an honest effort to get in touch with the owner (with elderly owners, serious illness, or a probate situation tax payments can easily get lost or overlooked).

The investor will offer the following:Cash transaction;A quick sale closing with no inspection; andYou can leave behind any items you don’t want.The problems begin when the homeowner is elderly, alone, and doesn’t know the true market value of their property:They may have purchased their property over 20 years ago for $50,000, $100,000, or maybe $200,000.That same property now could have a market value of $300,000, $400,000 or even $500,000.The idea that they purchased the property 20 years ago for $120,000 and are now being offered $220,000 sounds appealing to these homeowners – their mortgage might be paid off and they will make $100,000 – sounds good right?

What is my liability with other 4 elders staying with them?

In the end, I feel like I significantly overpaid.We purchased the property in late September of 2017 from an elderly couple that had 3 exemptions (homeowner, senior and senior freeze). 

The fact that you are out of state and the tenants are elderly is only going to compound the problems when they arise.

They prey on the uninformed, the elderly, those with a poor grasp of the english language.

I know few people in the area i live in that have rentals and i wanted to know what is the market value in my area So i can know what to offer, they are not putting for sale but these people are elderly who might sell if i just asked

Any financial profit would have been dwarfed by the legal fees and potential CRIMINAL charges of elder abuse.