Countless times I have sat with elderly person or children of parents recently deceased, who just want to get the value of their family's time, effort and generally, a person's legacy.

I just don't have any direct hands on with them, other than once being a student, visiting an elderly relative at senior housing, and storing a boat and some belongings at a self storage place.5.

I work fully remote so moving to a new location isn’t an issue, however, I’m currently taking care of my elderly parents so I’m unable to leave for an indeterminate length of time. 

You need to talk to an Elder Care Attorney.

See an Elder Care attorney :)

This place has a solid reputation, steady revenue and the only issue with the business seems to be the families health and ability of the current owner to operate it in her elderly years.

You get involved with an elderly person, mix real estate, finance, and legal in the sentence and someone's gonna get screwed.

and when relocating cross country, its either that (rent residence at least temporarily) or extended stay hotels and the like til close on residence. i opted for extended stay cuz there was more freedom/flex than most leases afford esp since just temp/short term.and i do know of some mature 'investors' who still live in their parents house interdependence style, like in the basement and stuff, and seem to have no interest in independence. can totally fathom the need to take in elderly parents when the time comes, lest they be placed in nursing homes. but living in parents basement or garage while being a supposedly established re investor is quite ironic too for it is what it is.

 it says it all that you - or your wife who gained ownership from her tax default, - are even contemplating have the POLICE REMOVE HER.Taking advantage of elderly family much?

There are people in San Francisco & NYC who purchase condos and let the elderly owner live in it for free until they die just to be able to buy it off-market (sellers market).