Guaranteed Interest / annuity with steady stream of income 2.

An annuity?

This will be part of a mix of a annuity, stocks and bonds to build a stream of income!

was a banker trying to get people to invest in CD’s and annuity products.

That sounds like a good plan, just do NOT get talked into annuities. 

If she can not handle money, then she should look for an immediate pay annuity or a series of step CDs.BTW, when renting to someone with health issues, its important to have information about her 'to contact in case of emergency' and 'who can access the unit to remove things in case of emergency' Or her death.

I also made $30 million since 2001 by not syndicating, by not having partners, by not listening to real estate brokers and by not having a property management company.If you have $500k and you need the help of others to invest your money then invest in insurance annuities because the real estate business takes a certain amount of business savvy, wisdom, experience, foresight, the ability to understand how to deal with tenants and the ability to be in full control of everything at all times.Keep your money in a safe place until you know you are ready to make your own decisions without depending on others.

Looking to help her out and buy her house from her accomplishing two things: paying off her remaining balance of ~$30,000 on the mortgage, and giving her enough of a monthly annuity from my pocket so she can retire.

Agreed that focusing on target audiences who would want the income to buffer a social security or retirement monthly annuity-type payment would be best.

You don't need software for this if you learn to use a spreadsheet and now amortized annuities work.