They are now elderly themselves and want to be rid of it.

As for the stone, get rid of it if you can.

At the moment, I've got a ton of debt I've got to get rid of (Thanks Obamacare!)

If I could not train them with a single face to face conversation I would get rid of them.

Maybe now he's just trying to get rid of?

The plan is to turn it into a 4 bedroom 4 bath, 5,000 square foot home, moving the pool from the inside to the outside, and of course getting rid of the river rock!

You'll want to discuss with your lender what each scenario looks like (specifically what interest rate would be charged on a second vs how much PMI per month) and an excel spreadsheet will tell you which one makes more sense.For my first primary, I did 5% down conventional so that I would be paying PMI, but would have the option to get rid of it if my home value went up enough.  

That would mean they could restrict your customers from using their lot, and/or their lot could fall into serious disrepair and there is nothing you can do about it.Is there a reason they want to get rid of it so bad?

The City of Milwaukee has a list a mile long of houses that it is trying to dump that go for pennies on the dollar and still cannot get rid of them. 

The property does have defer maintenance and he manages himself and he wants to get rid of the property because of failing health.