I have a tendency to write a lot more than is needed, so I will do my best to keep this short.
My father has "recovered" from a brain tumor which was diagnosed nearly 20 years ago. Before this occurred he was thriving financially with several successful businesses, real estate, and paper assets/investments. Since then he has struggled cognitively and socially. His businesses have been shelved (or he was pushed out of them) and his remaining assets are all carrying several liens or various types of bad debt.
He is in significant tax debt, having not filed or paid his income taxes in ~15 years. The last tax bill he received (from the state revenue service) was up to $150k (including interest and penalties)
He owes several attorneys money from his divorce (post surgery) and other dealings which have accrued significant interest ~$50K
He still owns several rental houses in the area, however almost none of them are occupied with tenants and it would take a non-trivial amount of capital to get many of them up to code.
He also owns large parcels of commercial and residential real estate (which have no infrastructure).
All of his properties have several liens of varying amounts/types. The land, houses, vehicles, etc. I would estimate have a total value of around $1.2million - far exceeding his obligations.
It's noteworthy to state that he has a strong paranoia of just about anyone: buyers, government, even his own family.
He makes about $15k/year between SS and doing odd jobs and it is unlikely that he will be capable of earning any more income than this per year. In other words he is disabled, old, and won't be able to get a "normal" job. I don't believe he is able to make sound decisions about his health, finances, or well-being. He has told me several times over the past year that he feels paralyzed to do anything. However this is not the first time he's asked for help, and every time we've tried to help he feels threatened and backs out of agreements, makes excuses, or makes threadbare, non-starter comments like "just sell it all for $100 and I'll leave! You don't understand the value of anything!" etc
My question is this: Where do I start? How can I seek help and guidance?
I own some real estate of my own but cannot (and will not) leverage it at this time. I make about $80K/year working full time and own several apartments.
This problem has grown so much, and he is so disorganized - completely unable to help himself at this point. I am just totally overwhelmed on how to seek help and am not sure if I can even get him to allow that help to have a real material effect on things.
I am frustrated beyond measure because the problem seems so simple:
1. Sell or refinance enough property to pay off bad debt. (<--- I just can't make him see this one)
2. Get paying tenants in properties.
3. Pay down newly refinanced debt immediately.
Any help is really, truly appreciated. Thanks for reading.