Elderly tenant not paying????

[Nathan Ruffrage]

Ok investors. Need guidance. 

I’m considering the purchase of a property owned by another investor. This Investor bought a property from the elderly owner who has let the property fall into disrepair. Investor promised to allow her to stay and was going to give her a small adu to live in on the property. Investor wants out and is looking to just get his money back out and pass on the situation to the next owner. Tenant is not paying rent and is not in good health. Tenant probably needs assisted living but does not want to leave. 

There is big financial upside on this acquisition but it comes with some serious moral challenges. 

I’m wondering if a state social worker can help this elderly woman relocate to a better living situation. 

[Bruce Woodruff]

I would call the State/City first and see what the options are. Otherwise I wouldn't take on this other owner's problems, you could get stuck for years with an income drain. Lots of other properties out there I always say.