If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value. 

One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.

You are not a borrower, you are not liable for the debt, you may need to sign the security instrument to allow the mortgage to be recorded, but this does not change the above statements.

Official meal of Belize.  

However, if I don’t secure an eviction order within the next two months, I’ll send him your message.

Good luck on your journey and I hope you provide the financial security you hope for to your daughters. 

In Sept I'm still waiting for an official announcement and legal documents to be provided.My second investment with them is also on the verge of failing with the property heading for foreclosure.Best of luck, Cheryl

Our goal is to establish a structure where the property owner can secure financing based on the long-term lease with the operational company.Any advice or insights from those who have navigated similar situations would be greatly appreciated!

Being a 20 year mortgage expert and real estate investment veteran, we used our mortgage company to secure below market financing.

Our negotiation approach focused on building rapport with the seller, allowing us to secure the property below market value.