I think the thing you are missing is that if you are not the direct heir in this situation, litigation will ensue if you try to make a deal (or succeed) like this with an elderly relative without consulting the direct heirs in line who would get the property via will or probate on a death.

Should this be our future, it would be very advantageous to acquire a lot of property now and let the ensuing inflation erode away the debt. 

Should this be our future, it would be very advantageous to acquire a lot of property now and let the ensuing inflation erode away the debt.

Now battle royal ensued for a decade to get the Casino approved.. and it finally was and was built.. its the largest Indian casino in Northern CA and its within 1 hour of the North Bay and SF and of course in the Sonoma Wine country.

Mad scramble ensues...MORTGAGE BROKER, wells fargo, pulls EVERYTHING together in 4 hours, signing at 2pm How did you finance this deal?

@Jay Hinrichs, on the other hand, weighed in and calmly stated that this was just never going to happen, it was a pipe dream, a debate ensued, and since my wife and I run small C-class properties in the Rust Belt in a local neighborhood mom and pop landlord operation, I tried to explain how crazy the idea was that you can count on remote-managing 20-30 C/D class doors in Indy or Cleveland or here in the Burgh from the coasts successfully over the long haul.Well, the long and the short of it is that we've never seen this person again here in the BP forums.

But there is not enough leftover rent that compensates for the chaos and drama that ensued.  

A 50+ day debacle ensued.

Before the eyerolls ensue, I have a lot of cross-experience in business that makes everything I'm learning easily applicable. 

So ensued the blow up.