The reason that you just signed a bunch of paperwork promising that it was gift and you have no expectation of repayment, is that if you then try to threaten the house to get your son to pay you back, a judge is going to kick you out of the courtroom....

To clarify the tenant in my case is not elderly and I can’t speak to their medical condition lol

Also, I will not be able to physically look at the house for at least the next two months so I can't confirm the state of the property although it appears to be in good condition from the pictures.

These properties are usually not in the best condition because generally someone hasnt been living in it for years, but you are able to apply to purchase these houses and land from the state for painfully low prices!

In fact I did have at least one deal that wouldn't have happened without her.Just this weekend, and I mean Saturday/Sunday I was on the phone with our mortgage broker getting rates and a letter of conditional approval so that we could get an offer in on a property. 

Like what is it you need help with, the type of property (number of units), the age and condition.  

Realized I don’t want to work the 9-5 for the rest of my life and started looking at options which brought me here to learn as much as I can about real estate.

You only live life once you might as well live it the way you want to.

Get comps to determine Fair Market Value (like new condition or ARV)5.  

Also the margin may be thin but if any local South Jersey Wholesalers would be interested in partnering I would do all the work in exchange for some guidance.The deal:Guy owes 60,000 on a twin that is in good rental condition and could rent for between 1100-1300.