Legal Question in Real Estate Law in Indiana

My mother-in-law lives independently and insists on it. Her home is in dire need of repairs, but I am hesitant to spend the amount really needed to make it right (approx $45,000). I believe she will eventually go into a nursing facility and she has no assets, other than this house. It is taxed at $50,000, but I have doubts as that worth considering the condition. She is 87 y/o. She owes $10,000 on the house because she cosigned a loan for a dead beat relative that is now deceased. Question, can I purchase the home for the amount of the debt, repair it properly and allow her to live there without fear of losing it from a medicaid/medicare claim, if she does go into a nursing home. Thanks

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