Also being a southern boy I definitely enjoy speaking and helping my elders!

just out of curiosity - does a background story like; I’m doing this for my elderly, frail parents from another country - eliminate the need to abide by a contract?  

Both units have tenants in there till june and july 2022 they are paying undermarket value rent the 3/1 is paying 750$ bigger pocket rent estimator says i can get 950 very high confidence according to them i think i can easily get 1000$ and the 2/1 is a paying 600$ a month he is elderly but bigger pocket says i can rent that for 850$ total rent amounts came in at 1350 my piti totals to 946 and property management takes 10% total monthly cashflow is 269 a month with current rents.

Though, my FIL is elderly, loves his current home, and is very unlikely to move.

Property Taxes- Property Taxes are favorable for the elderly.

Scenario: Elderly owner dies and HOA forecloses on the property.

An elderly woman had a leak from above in her bathroom from a leaking shower drain.

It seems that health risks are slightly less concerning to the overall-healthy individual, but what about the more vulnerable populations (immunocompromised, children, pregnant, elderly, etc), and those who are renting a home for longer term?

Bought it off an elderly gentleman for 55k. 

The seller is an elder couple that have multiple units within the condominium, but are looking to start an exist strategy as they are travelling too much to self-manage and want the extra cash.