Need a creative idea for my inlaws
My wife and I would like to relocate (to the Denver area) but ~5 years ago she convinced my inlaws to move here (Dallas area). My father-in-law's health has rapidly declined so we don't feel like we can just move without getting them to go with us. I've been trying to come up with some scenarios that would be good for them (and us lol) but I'm not an experienced investor so I wanted to see what you guys/gals though.
My in-laws currently live in a ~130k house that is paid off. My mother-in-law is now having to take care of everything (mowing in Texas heat, etc) so it would be nice if the solution would downsize their living space (already pretty small at about 1400 square feet) as well as removed the need to maintain the lawn, etc. Also because of my father-in-laws declining health it would be nice to budget some amount to make the living space friendly to someone with very limited mobility.
My father-in-law is a veteran (just in case that sparks an idea about a VA loan). Also their only income is his social security / disability. My mother-in-law had to quit work to take care of him because she made less than it cost to pay someone to do it.
So I'm open to all ideas. I would be willing to purchase something myself as well as long as long as it isn't losing money for me. I was thinking about the "house hacking" thing that @Brandon Turner always talks about except for the person living for free would be them instead of me. I was wondering if the larger the number of units (4-plex vs 2-plex) would increase the ability to live for "free". It would be nice to get a small amount of money to manage the tenants if possible.
I didn't mention just getting them to sell their house here and buy one there because Denver seems to be a decent amount more expensive than here. Maybe I could just market for a great deal and work it that way...
Thanks for your time / input!