This may be a non-issue if your relationship with the owner is a close one.Offering lease / options property is an entire education course in itself.

Keep in mind not everyone starts their relationships at the same financial point in their life or manages their money the same.

I look forward to beginning a relationship with many of you on Biggerpockets.  

If you have a close relationship with your Grandma, pick her brain to find out as much as you can about the property. ie, why didn't they fix it?

It sure seems easy for "investors" to say that the people out there doing the leg work by talking to the inspectors, getting the comps, and detailing down to the screw a material list isn't doing enough to try and establish a business relationship.

If your goal is to continue in real estate investing then that relationship will be a big part. 

Just talk to your title company that you plan to use, develop a relationship and use their contracts.  

I am especially interested in mixed use property in downtown/historical communities. 

Real estate is a relationship business.

One of the toughest things to deal with, and made even harder since it's clear you have some sort of relationship with this person.We've learned the hard way (as it appears you have as well), that being nice to the tenant and allowing them to fall behind on rent usually bites you in the end.