So the 26-year-old single mom of three works on the side for cash and ends up with housing nicer than any of her peers that work full-time jobs while laying on her back and getting pregnant with child #4 but the elderly woman that is incapable of working has to live in poverty.I worked for Dept of Family Services for 18 months and saw ridiculous amounts of fraud, waste, and abuse.

If the home is a standard sale in foreclosure it's the same as any other transaction except you may be on a tight time frame to perform due to foreclosure proceedings.If it's a short sale it's a different beast, but sounds like this transaction isn't.Important points would be if you are trying to do subject-to, dealing with elderly, etc in a foreclosure, then sensitivity would be amplified due to their foreclosure status. ( need to be extra careful with disclosures, etc, when dealing with people who could say you took advantage of them. )

The most recent one was on a million dollar plus property, where an elderly couple got a reverse mortgage, and a condition of the loan was they had to live in the property.

A couple of investors with little more experience than myself seem to dismiss the caution of experienced investors that had some wisdom to share and "vote" for replies posted by newer investors that may not have had a full run with accepting a year of rent upfront.My opinion: I listen to my elders on this one and would refuse basically any instance where a tenant offered to pay a full year upfront.

@Devin Elder@Sterling White@Mindy Jensen

After screening many tenants and narrowing it down to two quality candidates, I have accepted a holding fee equal to the security deposit for an elderly tenant for move in at the end of the month.

I felt it was an important point, and so created the post "It's why we have "Elder Laws" David, they often go to jail and get out, paying restitution under probation, which can be much different than wages being garnished!

The list of possible "cafeteria plan" benefits is extensive- child care, elder care, alternative medical treatments, special diets, a company car, etc.

If they are elderly or just not computer savvy.

After talking to her and informing me about some basic rules so I could inform my tenant she invited me to her home.I visited her home and we hit it off, she's an elderly woman and pretty much wants to fulfill her dream of living next to the beach and is just about ready to sell her home and ask me if I was interested.