Flipping Grandma's house?
I apologize this is long...
We are getting ready to move to Yuma from overseas. (January)
My 90 year old grandmother lives in Grants Pass in her own house that she has a remaining mortgage of about $70k. She has got has gotten herself into credit card debt but don't know how much. There is water damage and mold but I don't know the extent. Rats have infested it. She is in a co dependent relationship with a couple who she is "helping" who live on the property the wife has cancer... This couples dog was being watched by my grandmother and it went missing for a couple days she found it dead under a cabinet... The situation is horrible. I am currently overseas and I am not sure we can get my grandmother to willingly move....
I want to have her move to a little casita on whatever property we can find so I can take care of her. The idea was to offer to pay off her debt and make monthly payments for the rest. I wanted to BRRR but mortgage prices in GP, OR are to high to be covered by rents. So figure it has to be a flip.
I think from looking at other comparable houses that ARV of hers might be in the $250k-$275k (though the county says market value is $405k!)
How do I approach her so that we can both make this work? It's going to take days to clean out her stuff to even figure out what needs done... Sorry for the long story just feel helpless and sad....
Thank you very much, Julie