Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Below is a link to the rent assistance program in Canton, Ohio; I would collect the current rent from the family and then provide them with this resource for help with future payments. 

I created an LLC to collect rent and manage any expenses related to the property. 

If it would concentrate on rent collection only and do it well, it might be okay. 

Just let the money live in the house and collect rent as the only ROI?

1) Yiu REALLY need to know what CA will  allow you to do, I don’t know, but the state may say too bad landlord, you lose. 2) Assuming your attorney (Or you if you’re able to decode the laws that relate to your situation and are willing to go to court in front of a judge against a “sick” kid.) think you have the right to collect the rent I’d give them two options. 

Assign a contract: This is where you get a property under contract and you "fee" that you collect at closing is for giving the end buyer the rights to execute on the contract.

I should look at the expenses vs the income (rent collected) and not the selling price of the property. 

Nice to meet all of you and looking forward to expanding our skillsets collectively!

But IRS allows an IRA to be invested in anything except life insurance and collectibles.