Mark,I would suggest you talk to an attorney who specializes in elder law.

With tile you have to worry about slip and fall accidents with the elderly or children.

The only reason there are section 8 now is because the property has been owned by a charitable organization for the last 20 years and they help elderly people when they need housing, through their churches I believe.

Price: 132k Zoning front is zoned c3, middle is c1 and the back is r1Location class: CIntent: build an elderly housing community.This property backs up to government housing, a 55+ community and an open field.

I think what we have now is can be described more as a normal market ... so yes you must kick over more rocks.. and when the  deals present your able to execute. there will always be.. the burnt out landlord syndrome.. the landlord that is elderly and retiring and kids want to liquidate.. the large investor who wants to shed a odd ball asset and just wants something off the books.. a number of reasons..

This an elderly lady that is off loading some property and is looking to get the cash out.

Cause someone's elderly parent to pass away due to lack of professional care and you are in hot water.With that being said, my sibling owns an ALF and I helped put the deal together.  

Our lender has a program that allows children to help out elderly parents with their mortgage through a refinance process.

Take the advice of our elder and wiser, your advice was misguided, you got called out on it.

My kids could come back on that deal with all kinds of claims concerning my ability to negotiate, contract, ability to understand what a prudent seller would do and hit on predatory issues, lots of thing could happen as to cleaning the clock of some elderly guy.