Situation: Elderly couple facing foreclosure.

We had a guy in NC who would refi all of his elderly family members every year or 2 and max out the fees he could legally charge every time.

It comes down to what takes place.If the group is all family and friends and each decision is reviewed by each person then you are likely fine.If the other person is a stranger you met through Craigslist, they are an elderly lady with no RE knowledge and you are the one making the decisions for the deals that are funded you are in serious trouble.

Had to move here fast, to move elderly relatives in with us, which owner was aware of.

I actually heard of a guy who focuses almost exclusively on 1 bedroom homes and rents them out to the elderly (mostly) and does very well.

I find often times elderly sellers appreciate an income stream more than a lump sum since most run to the bank and deposit it anyway. $60k sales price 10% down from your SDIRA and monthly payments you can both live with?

Her mother is still alive, but elderly and handicapped, therefore, she would prefer not to 'use up' (lower the net value) of the funds in case her mother needs assistence back from us.

How's this for a "situation":The owners of record are elderly, are divorced and never did a property settlement, so they own property together.

I have not spoken to the owner yet (but will) but my friend also said that the property has had full vacancy for over 3 years (mostly elderly people), Utilities are metered individually, refrigerator, gas range, washer/dryer hookup in each unit.

She is elderly and sounded not of sound mind.