Yes, there are LLs who make a good living serving this niche market.My husband retired from being a mental health case manager for more than 30 years in the south Puget Sound area. 

Also he wants to get both of his properties out of his name in case something happens health wise. 

You may want to check on the health of the HOA, though, to be sure you're not about to be hit with some stupid high assessment. 

Yes, absolutely yes, review items such as crime trends, median income, unemployment figures, non-farm payroll figures and growth respective of that, school system health, general GDP growth of the prospective market.

And for the 30 year tenant, it's easier for you to tell them, sorry, "mom is in bad health, we'll have to move her" and it would be less awkward and a good excuse.Sounds like a real headache to fix, especially after years of neglect, so just get rid of it, and use the proceeds to buy something more up to date.

Assuming the kitchen and bathroom in place are functional, complete, and absent health/safety hazards, certainly. 

@James Yoo - This is such a tough dilemma, these people have rights and deserve respect but so do you and your residents.  

My dilemma is that I’m an artist (and yes, I actually make a full-time income doing that 😏 and have become relatively well-known locally) and I’m most excited by the rehab and design part of this project.

My dilemma is how to structure this thing with no money down and keep a positive cash flow, even if that means I have to manage it for awhile. 

He’s in great health and stays on the run between managing his properties and doing work in his church.The question that I have is how would you go about encouraging the first lady to sell this year?