The more exposure you provide, the greater chance you have of finding the individual who can help you.

For Medicaid there is a 5 yr lookback on assets/funds - Medicaid can pay for assisted living - however few facilities work with medicaid (or whatever the program is called in your state - in KS it's called HCBS - Home & Community Based Services)  - I'm not fully educated on medicare which kicks in for SNF - skilled nursing facility -- so I do not know the nuances of that -- if there's proof of elder abuse regarding funds I'd guess the local authorities and possibly Medicare/Medicaid could come after the guilty parties.

As long as it is going through the probate process and he has the letter of authority to sign an agreement with you he can do a lease option - I assume you will be paying the mortgage directly?

@Jonathan StyerAre you trying to get a blanket loan for both properties or individual financing?

I know state by state they have restrictions as to how many homes an individual can sell before they need a license but I'm still unsure on this other part.

The percentage may differ based on the individuals and their needs but again the diversity needs to be there.I'll always be a RE guy first because that's what I know best but if you can tax free money from a cash out refinance, place it into an F.I.A. ( Fixed Indexed Annuity ) an literally be guaranteed not to ever lose money unless you withdraw it during the surrender period.

As long as you have any NOI, you'll still have NOI growth equal to the individual growth rates.

I established a mgt co S-corp a year in 16 years ago and am glad I did.I did it to have a higher authority to check with, anonymity (no rents or 1099s in my name) and retirement plan options.  

In almost all these cases none of the individuals qualify on their own under our 3x gross income guidelines but together they do.

I'm looking to learn from individuals that may have some experience in this area or any input.