If the tennat can not afford full market rent you do not want them as tenants.

Suggest you iron out this with your CPA quantifying the amount, tax and projected income at your future tax rate.Your CPA wants to know what, how much you are invest in cash flow, affordability etc.

The either don't want to or can't afford to reinvest in a house they no longer want so the investor option is palatable. 

If you cannot afford to do your own marketing then wholesaling is not for you.

If we could get the whole $300k that would be great, but I don’t think our tenants could afford this.Here are some of my questions.

If we could get the whole $300k that would be great, but I don’t think our tenants could afford this.Here are some of my questions.

As others said, try the HML route.Another thought -- if you can't afford more than 15% down (and this is a gigantic leap on my part, so forgive me, it's not meant to sound terse), you might want to reconsider investing in the next property with your own funds.

The ideal situation would be something affordable in the west suburbs of chicago that's a duplex/triplex/quad type of situation.We don't need positive cashflow since they would live in one of the units, but if the other tenants could get close to paying 50-100% of the mortgage that might be a good enough solution for them.Any safe/liveable neighborhoods you'd start looking idea?

In return his management time will be less, and theoretically can afford to reduce fee a little.

If you find an elder care facility that accepts Medicaid and if your MIL intends to go there, investigate it thoroughly on-site.Reading the stuff about Assisted living and the fact that most of it is BS is frustrating on here -- enough so that if I continue to visit this site I will likely start a blog to tell the truth.Medicaid is not evil - if someone runs out of funds or goes on Medicaid it is not a bad thing.