In my opinion, elder one has 50% chance at Ivy league, other one  may be 20%, but I like UC system and want to plan for it

The owner is an elderly person who wants to ramp down on his investments.

I don't know the gentleman owner personally, but know that he is elderly. 

Original owner elderly from Minnesota?

I think I’ll look to invest in stocks related to healthcare, basic food, and elderly housing – funds instead of individual stocks.

In many countries, families step up to take care of their elders, not the government.Kids however, have not had a chance to save up for anything.

I have had cases where the actual executor is elderly and a son or daughter will be calling for them.

This again comes down to the individual, I personally would not feel comfortable dealing with an elderly person if there was any question in my mind they were not competent.It is true that people will leave money on the table just so they don't have to deal with it, I do this all the time in other aspects of my life.  

So we analyzed the deals she had done and 80% of them were elderly homeowners (70+) that owned rental property in one of 2 cities.

BUT, be certain, if you are dealing with an elderly person or anyone who's capacity to make a sound decision on selling a property at such a low price to value you should be careful.