You need to find the sweet spot in your area. 

They were sweet enough to do it without asking for anything in return, but I think as a landlord you will figure out if a tenant of yours is trustworthy enough to be in this position for you.Like the others have said, I still think there is some conflict of interest, and I wouldn't recommend keeping any management agreement for a tenant you inherit, but it doesn't mean you can't have a successful on-site PM after cultivating a good relationship over the years. 

wine or beer

I found the sweet spot when I came across "Petitions for Probate" those are the ones that will have the info I believe you are looking for.

how does it affect you.. its a 2 mil property your paying 2 mil for what is the upside.. unless of course your low balling and taking equity from the sweet little old lady :).. don't see your point in all of this.I dealt with this in the Timber business were many of my clients owned timber with next to zero basis.. we did a 1031 on the timber deed.if she lives there I don't think she can 1031.she can do a charitable remainder trust but really she is too old for that.and I think there are things called generation skipping trusts..

Three bedrooms are the sweet spot.

In my experience, the 2 family market in Middletown is the sweet spot.

I don't know what your financial situation is or the potential of the area but 5k for a house is pretty sweet..

These wells are record producing wells extracting some of the highest quality sweet crude oil, Oil prices would have to go into the 60's or 70's to slow the boom down.

There are documented periods in Great Britain when they were, and then weren't, able to grow grapes for wine - it keeps going back and forth.