Our out of state rental property has elderly tenant with care givers around the clock.

My name is Mike Mannino I am currently at the elderly age of 23 and an avid real estate investor here in Metro Detroit MI.

I have not done this yet because I do not plan to develop the parcels and do not want to accrue more landscape maintenance cost)Rents: DN: $900 - UP: $763; both CMHA tenants, DN has been there for two years and CMHA pays the entire amount, UP is an elder woman who pays 50% out of pocket, Section 8 covers rest, and pays on time online, so all payments are automatic each month like clockwork (Total: $1,665)Rehab scope: Spent over $5,000 on rehab just to satisfy POS inspection which was tedious and nitpicking at the smallest things.

In the future (years down the road) should one or both of my grandmothers decide to move elsewhere or into a elderly home, can I legally turn the houses into a rental property (not to a family member)?

*ive received copies of the leases..1 of them was not signed by the tenant (who happens to be an elderly lady that has been living there for 24 years..any advice on how to navigate this? 

Devin Elder had some really good points.Podcast #207

It was an elderly woman who had approximately 50 units she was getting rid of so that she could move out of the area.

I don't think that the seller would consider any type of seller financing, since he is elderly and has started to sell off his portfolio.Plus, if I finance the entire amount, it will not cash flow.

I asked this question to one of the elderly veterans at my local REI club.

Whole Life have a very small niche in the market for instance, if you have a child with down syndrome or elderly parent that depends on your income.