My experience with wholesaling is that you are frequently dealing with very sad situation’s… Divorces, deaths, elderly, people that really can’t take care of themselves and make a smart financial deal for themselves, etc.

We get elderly guests who don’t understand the smart function, so it’s the best of both worlds. 

My appraisal when I bought it used comps from a town 30 minutes away and when I was evaluating it myself I completed it to single family homes selling in the area and since it was selling for less then a single family whole being in good condition from an elderly couple who had it for 25 years I knew it was a good deal. 

I have an elderly tenant who fell in her bathroom and wasn't found for 2 days.

If you don't know it, it's a super small tourist town about 9,000 people, huge tourist destination with beautiful red rocks.we have a great off market deal with a motivated elderly seller.

I would also consider either building out a deck like Unit 1 has or ditching it and making sure both front entrances have a small ramp for accessibility, in case some of your tenants are elderly or handicapped.2.

Quote from @Michael Elder: Looking for some help obtaining STR insurance.

Many times banks will avoid loaning to elderly.

@Stephen Macenas no you cannot pool any money for down payment and closing costs to get a conventional loan. 4.5 rate indicates it was conventional but who knows how many other liens or 2nd and 3rd are on title.If the owners of record are elderly be an expert on documentation, less they return to haunt you in court.

THE DEAL IS AS FOLLOWS:ORIGINAL LISTING PRICE WAS $447KTHERE WAS A CONTRACT FOR $440K (BUYER BACKED OUT AFTER STORM)SELLER IS ELDERLY AND WANTED TO MOVE TO ASSISTED LIVING WHICH WAS WHY SHE WAS SELLING IN THE FIRST PLACE.