@Jay If she can work out a payment plan with her lien holders and if the HOA would allow subletting then I can see a lease option working out. 

Is there no way this clean up is the responsibility of the insurance carried by the person, or the immediate family, or even the person who is the primary lease holder (if not the person committing the suicide).It is insane to me that this is your financial responsibility.

At his age, he’s probably not looking to 1031 exchange them into more property and wouldn’t want to deal with capital gains unless he needs to and doesn’t want to be soneone’s note holder on seller financing.Then again, maybe he just likes hording hard assets, like the rarely used car in the garage.

At the same time they have issued bonds to pay share holder dividends and for stock buy back.

The property consists of 4 structures - 2 duplexes, an SFR and 2 car garage, and has 3/4 of acre.Here is the link to my analysis using the BP calc assuming a $455,000 purchase price and below is quick summary.https://www.biggerpockets.com/calculators/shared/260799/874435c9-b77f-4f96-a3de-90be11c4cbbaThe asking price is $475,000, Assumed purchase $455,000.I've assumed $30,000 in repairs as a place holder (TBD)Current Rents total - $4,700 + an additional $75 in income from laundry machines _ According to listing broker.Taxes are $5,868 (verified)Insurance $4,500When factoring in other expenses - landscape maintenance, water, elec, vacancy, repairs, cap ex and PM I end up with $610 in cash flow.

Your friend/relative will be 1st position lien holder. 

The 2nd Mortgage holder has to sign a document stating they understand they are a 2nd Mortgage and not a 1st

Meaning if John Doe was the named insured and original title holder, then signs the title over to Doe,LLC, but only adds Doe LLC as an AI not a named insured.

IE a little thingee that will light up on their dash that says a payment is due and if the payment is not made the car is disabled.. and of course GPS tracking so they can take the car back.. the other risk I have seen personally is you get a bad dealer and he sells the cars pockets the money and never pays you the lein holder or transfer title t the new car owner.. that is right out of FARGO.. but I new a new car dealer back in the 80s that did just this same thing.. he was a new Chrysler dealer..

I should have posted a long time ago, this is a beautiful community.According to an attorney there is a second mortgage/lien for around 100K, and she said it's possible the holder of that loan won't try to  collect or enforce their lien.