I am looking for advice on how we can determine whether or not he/we can qualify for conventional financing?

@Lindsey Simpson I would consult with a lawyer to determine the states elder abuse laws, even having a title company involved will not relieve you of any potential lawsuits by the 82 year old, or her family or friends.

Thanks @Brian Gibbons@Jasmine Ansley What you're trying to do, would determine what else you'd need.

It is more about character and self determination than inner "stories" that would almost never materialize...

So, what other things do you all look for when doing online research to determine if a particular neighborhood is "good" or not before you waste gas/time to see it in person.

How does the lender determine "potential market rent?"  

How do they determine that?

So you just found a 1000 sqft SFR with an ARV of $100K; it needs some rehab of say $10K and the seller is selling the property in its 'as is' condition for less than the ARV of $100K -- an amount which we are trying to determine. 

Where I struggle is determining the rent.  

No, these numbers are generally inflated to extrapolate a higher value, and therefore a prudent buyer should do his/her own underwriting to determine potential performance of the asset.