With the 200-300k pay rent back to yourself for your elderly family member which should be enough to pay loan over next few years.

Alright so I have an elderly tenant who has bed bugs, is a moderate hoarder and who's rent is at least $150 under market.

I've tried (on a small scale) mailing to the owners of properties I've driven by that look run down or abandoned with so-so success (4 calls from 73 letters, 1 is thinking about moving their elderly mother from the house and selling sooner rather than later, 1 is a realtor and is thinking about selling in the next year, 1 was a "vacation home" and would be willing to sell for $500k... 900sq/ft cabin by a pond, LOL, and one was just curious why I was contacting him).I was thinking that probate records might be a good way to build my own list, but after much research it seems that probate deals tend to take a while after they're recorded and don't generate much response?

Tragic.Another guy called and after dealing with him for a couple of months I found out that he was a distant cousin.An elderly woman called from GA (abandoned property located here in NJ) and said that I had to deal with her son who lived in the next town over.

Three didn't return my call and one is an elderly man who wants to unload at least one of his properties.

The elderly seller only has this property in the company and wants nothing to do with the management.

Sometimes sellers don't like "talking to those machines" (elderly folks who are old fashioned) or would trust a live voice instead of an answering machine.

I have the utmost respect for my elders, and cherish the wisdom they are gracious enough to bestow upon listening ears.

By complete mistake I got in touch with a elderly gentleman that has a park and is ready to retire.

It may have worked out OK but if it was present, the cost to migrate would put me at loss.The owner is an elderly woman (whom I met) and she is not able of coming down at all in price and I understand that.Your info was quite helpful, especially regards to checking the state laws - I am sure this won't be the first time I have to navigate this.Thanks again!