Or she stops paying either on purpose or by accident and doesn't tell you and that wrecks your credit...

If she's currently on Medicare but is trying to qualify for Medicaid, in some states the home can be kept if there's an intention to return (thus the allowable "caretaker"), but it will be subject to asset recovery upon their death, making it hard for the family to keep the home. 

I recommend seeking a few opinions on this matter before getting into contract and wasting your time.

Target neighborhoods near Bradley University, research rents, join real estate investment groups, connect with local agents, use the 1% rule, prepare for financing, and seek advice on cash flow and property analysis.Good luck!

My primary focus is on Wholesaling and Rehabbing in NJ and PA area.I’m eager to learn more about strategies, best practices, and the challenges of real estate investing, especially from those with experience or breaking into the market.

Search the post on BP and you will see all of the nightmares that owners have had to deal with.

Good reviews on work.b) Cheap contractor - wants $1,500 for the same work. 

HUD typically covers their portion of the rent directly to you each month.4.

Congrats on starting your investing journey! 

Based on the wording of your post, it appears you're passionate about Affordable and Workforce Housing, would that be true?