Since he is otherwise retired, lives close and owns 1/3rd, he doesnt draw a significant salary (15k/yr). 

Someone close to retirement and no time left I think paying cash makes a lot of sense.

Also, you have plenty exposure to the stock market with your retirement and pension accounts. 

Let me know if you want to compare notes.The other thing I'm doing is creating a self-directed checkbook IRA so I can invest my retirement savings in long-term hold real estate.

You may avoid the taxes if you deposit the funds in an eligible retirement plan (which includes anIRA) within "3 years and a day" of the date of the COVID-19 distribution (note: compare to a 60-day rollover).

The Raleigh area is in a great position due to the general southward migration of the US population, more people choosing to retire there, & lots of well-paying jobs being added to its economy.   

Retirement AccountsVested funds from individual retirement accounts (IRA/SEP/Keogh accounts) and tax-favored retirement savings accounts (401(k) accounts) are acceptable sources of funds for the down payment, closing costs, and reserves.

This has been about a 4 month process as they are starting to unload their assets because they are ready to retire.

My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement.

Many owners are retired and on a fixed income and can't afford the charges, so they're forced to sell.I want to help them stay in their home, while forcing equity for myself.Of course there will be due diligence on the building to make sure the rent can cover what the actual costs will be, including future assessments (being a manager, I do this for my clients) and make sure the owner / tenant can actually afford that rent.What am I missing?