The family member has held the buildings for decades and managed on his own, but he is 80 years old with health declining and cannot properly manage them anymore.

If by saying I am "too off center" you mean equipped and conditioned by those with 1st hand perspectives, yes I am. 

New Orleans, LAthere's Tulane university and 2 large health systems owning several hospitals across the city (Ochsner and LCMC). 

Quote from @Michael Wells: Hey everyone,My name’s Michael, and I’m an independent health insurance agent currently pivoting into real estate investing full-time.

For less active income (some would refer to as "passive income"), without a job, you're going to need to get a dscr loan but you'll also need to have a balance sheet to take the property down meaning you're probably going to need to partner.I would also try to see if you can improve your health issues before you start this new venture.

---– 137 W 25th St, Jacksonville (32206)OFF-MARKET / CASH PREFERRED  Turnkey 2/1 Rental in Jacksonville’s Urban CoreAddress: 137 W 25th St, Jacksonville, FL 32206Property Type: 2BR / 1BA bungalowCondition: Clean, minimal repairs needed, rent-readyPrice: Present your cash offerFinancials:Market Rent: ~$1,250/month currently rentedTaxes: ~$2,000/yrInsurance: ~$2,000/yrProjected Annual Income: $15,000Projected Annual Expenses: ~$4,000Estimated NOI: ≈ $11,000Cap Rate at $125k: ~8.8%Cap Rate at $115k: ~9.5%Cap Rate at $110k: ~10%Why This Deal Works:Strong rental demand in 32206Easy make-ready, no heavy rehabSolid cash flow and excellent cap rate at this price pointDeep lot with appreciation potentialClose to downtown, UF Health, Springfield redevelopment corridor, and I-95Quick closing possibleIdeal For:Buy-and-hold investors • Cash flow buyers • Section 8 landlords • Portfolio builders • Out-of-state investors seeking a simple turnkey asset.Access:Easy to show.

Comps are useful but they are always backward-looking and reflect past market conditions.

@Andrew Foster some decent advice here, but also some feedback from those who really don't have enough info to support their perspective.Many DIY investors price repairs on materials only and forget about labor as they do their own work.We're a PMC in Metro Detroit, but here's how our process would work:1) MoveOut Video & Pics used to create Scope Of Work (SOW)2) SOW broken down into Priority Categories:- Health & Safety- Government Required (municipality/S8 inspection requirements)- Property Preservation- Marketing Impact / Tenant Retention- Miscellaneous3) Bids obtained if we feel work will exceed Owner Approval Threshold4) Bid sent & discussed with owner to, "redline to their budget"5) Work begins once owner approves & funds6) Completion video/pics providedOf course, while this is going on our Marketing Dept would be doing a rental analysis & ad, and discussing with owner.

This will give us the first glimpse into labor market health since the beginning of the shutdown.

If I have a travel health care worker I verify the professional license, call previous LL, but those are room rentals, single occupancy.