I was wondering if anyone could offer some insight on owner financing when the owner is elderly.  

Hunter, for at least as long as writing has existed, one thing has been true about being young:  you can't learn by simply listening to your elders, you have to learn things the hard way, all by youself.  

@Blake Elder I recently came across MidAltantic having dealt with Equity before I find they are far faster on funding your deals.

My first rental property, got a tenant, elderly couple.

The seller has just informed us that Medicaid, who is paying for the owners elderly care, is demanding an appraisal on the property, and will not allow it to be sold under market value.

That is, it may not discriminate against families in which one or more children under 18 live with: A parent A person who has legal custody of the child or children or The designee of the parent or legal custodian, with the parent or custodian's written permission.Familial status protection also applies to pregnant women and anyone securing legal custody of a child under 18.Exemption: Housing for older persons is exempt from the prohibition against familial status discrimination if: The HUD Secretary has determined that it is specifically designed for and occupied by elderly persons under a Federal, State or local government program or It is occupied solely by persons who are 62 or older or It houses at least one person who is 55 or older in at least 80 percent of the occupied units, and adheres to a policy that demonstrates an intent to house persons who are 55 or older.

He was a good man and grateful for the small things which I offered him (namely respect, in this case).I currently have a few elderly female tenants who never give me ANY problems.

This particular seller should talk to an attorney that specializes in Elder Law.

My tenants are two guys that have been there for over 30 years, an elderly lady, and a mid 20s male.

Now I get paid online with money taken directly from the tenants checking account, and the difference to cash rent payments is like night and day.A landlord, an elderly lady our family knew owns a 3 family.