@Amanda Krause it is a great area I continue to keep an eye on it and also wouldn't mind picking up a few more over there with the continued growth of the medical mile corridor and Grand Valley growing in the area as well. 

Medical Payments: Provides coverage for an injury suffered on the premises.

The income is 3x the rent. however the retiree applied for bankruptcy in June 2018 for medical bills.

You will now have a huge monthly bill that you must pay.I'm not going to tell you how to think, but looking at mortgage loans and comparing how much you pay in interest is not a beneficial exercise IMO. 

Question: If I have the borrower's sign a deed-in-lieu before closing the loan, what would trigger my ability to exercise it?

You might want to consider shifting some of your portfolio into asset classes such as self storage, medical office or multifamily just to name a few.

Where will your grandma be moving and are the funds for the grandchildren, for other investments, or to be used for medical expenses and nursing facilities?

I recently found out about a possible motivated seller from a Co worker, this person hassomeone with medical issues and needs to sell at a discount ASAP!

Get a sizeable option fee (make sure the option states it's non-refundable option fee or the like) that you can keep regardless of whether the option is exercised. 

Basically these are exercises for me at the moment as I begin to understand how the numbers work together and against each other.