Proposal:I partner with the owner and finance the deal so that he maintains 20% of the complex with his remaining equity.

If you wanted to dig deeper into your states real estate laws, etc you could study your states real estate agent course for under $1000 during the summer break.

He maintains this network of borrowers.

low end rentals that have under 950 rents will run 50 to 60% of rent all in to maintain them properly and then take out mortgage.you can run the numbers.. this is for those you do not manage.. 30 to 40% over head if you manage.. based on my owning 350 of these that I sold 4 years ago..

Our five year plan is to own five to ten two or three family homes or one or two apartment buildings to rent / maintain for tax purposes / depreciation / write off's against our 9-5 annual income(s).

Just a quick piece of advice, the daughter must have conservatorship over her father - signed by a judge (the person living with dementia maintains the right to make his or her own decisions as long as he or she has legal capacity. 

What you should be doing now is assessing your new purchase and set up a plan for maintaining its condition by funding your CAP EX fund. eg. 

I certainly intend to keep glued to the podcast, while reading all the material I can get my hands on and complementing my study with attendance to local REIA's.I'm sure I'll have more questions and I look forward to sharing with you.Aris

Study zillows price history for area flip sales for offering at a high price... price drops, then selling at 80% of original listing. 

It will take some study and learning about real estate markets.