I made that mistake when I first started by trying to adjust the entire home, so it would be suitable if i were to live there.

https://www.crefcoa.com/assisted-living-loans.htmlhttps://www.lument.com/property-type/seniors-and-healthcare/

I live in Southern Africa and I am very new to this whole real estate journey and i hope to learn a lot from you all as we embark on our real estate adventures.

First, talk with a tax preparer who understands the capital gains rules and ways to avoid them.I'd ask about Adding you to title now while he is living. 

I currently live with my wife and 3 children, so I'm not sure this would be a good option for me.

Feel free to reach out if you need assistance. 

Are you planning on living in it?

In a drive able distance to where I live in South Carolina.

If you tell them you're a landlord and you own the property but aren't living in it, they should be able to quote you for liability, the house, and a much smaller amount of personal property (appliances like your fridge or stove)

See my other posts for typical renovation costs in Metro Detroit, and how to build a portfolio in Metro Detroit if you don't live locally.