There are some very very narrow exceptions to this including medical or job transfer.  

Deciding how much savings you need is the other key component, and arguably more important Ideally, you'll want to have enough available to cover medical events, long term care etc..

@Royce Talbo, et al,Remember to take into account the time value of money.Inflation means costs go up while the purchasing power of each dollar goes down.You also mentioned (medical) insurance.

(A little background on me - I am a Doctor of Philosophy, with a strong emphasis on statistics and data analysis, so know my way around research, data and figures.

This is a  "Subject-to" transaction, hopefully using two notes.A seller is willing to take I/O for 20 years is probably 1 in a thousand and they will be taxed just as Greg is, make that 1 in 10,000.I'd bet Greg doesn't mention the other issues with a Sub-to, foreclosure, Greg can only foreclose on his interest, that could be paid off, the note to the first seller is pretty worthless, that can end up going to the state in a medical issue, then there are risks of bankruptcy, law suits by other parties, collections and servicing, deed transfers, insurance, liens and the list goes on, which is why you should not do long term subject-to deals.      

I went to school full-time, worked in medicine (former medic) for 12$ an hour; while attending night-classes.

Since you plan to throw her out - see if you can help her move and find some place for her, Medical is very helpful for assisted living I believe - or perhaps get her family to do so, if she has family.I think someone else mentioned the 10:1 price rent ratio - I use this as a rule of thumb so the way it is now it doesnt work, but if you can improve the rents it will work. the price doesnt seem high for 1700 sf in LA.

Chiropractor and Orthopedic Doctor report provided.

It is TIMELESS.Here it is:dividerBe ‘The Doctor’ to Seller’s Problems – Unknown AuthorIf you want to really be successful as an investor, you must consider yourself as “The Doctor” to the Seller’s problems.

Nothing but doctors from the UK moving to the US with their daughters and by the way my company will send you a check...