Tax: This won't be tied to estate of any party in the deal.

They might, but have no duty to do so as both parties know the senior survives.I can state with certainty that's how it would play out in California.

I think the more important part is knowing your numbers such as ARV's and a general ballpark rehab number. 

Because Charleston is a vacation and wedding destination, we've seen a lot of properties turned into party houses, which the neighbors hate.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

You can find local meetups in your area by going to Network>Events up in the menu bar.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

He's in his 80s. b) He is considering trying to convert it into a rental but as I mentioned, the house has a *ton* of deferred maintenance (inside and out), meaning that it is extremely unlikely he could actually rent it to a 3rd party (which is what he thinks he could do). c) Also, he's "house-rich" but "cash-poor". 

Also, I think in Washington it's illegal to manage a property for money unless it's for a related party. 

Barring that, give notice to terminate leases immediately after close.Clean one unit so that it is tolerable to live in.