Real Estate requires time, energy and expense. 

Both are full-time jobs already, and directly owned real estate would be adding another one on top of that.On the other hand, passive investments require a lot less work (you do have to do due diligence on the sponsor and deal but after that you're done).

Also, if your loan was conventional; Fannie Mae recognizes the legitimacy of a QC between the mortgage holders and the LLC so long as the LLC is controlled by the borrowers; If the property was owned prior to closing by a limited liability corporation (LLC) that is majority-owned or controlled by the borrower(s), the time it was held by the LLC may be counted towards meeting the borrower’s six-month ownership requirement.

Do you know what particular restrictions / requirements you will need to make to the property for it to be suitable as a assisted living home?

Homes will have even more deferred maintenance and tenants will be even harder on them.11) Class D pretty much requires an OWNER to be on location and at the property 3-4 times/week.

If you're talking about conventional cash outs, the requirement is still 12 months if you want to pull based on ARV, otherwise you're limited to pulling based on purchase price.

Easy to get into  2-4 unit multifamily with lower down payments, use of 75% of other units rents to qualify, can be purchased as primary with 3.5%-5% for primary and 15% for investment versus Storage facility which carry a higher down payment, tougher underwriting, DSCR requirements, percentage of units rented ratio requirement, previous years financials, Each bank/lender has specific overlays and may require more based on commercial financing.Some banks and lenders also require landlord experience when it comes to storage facility or commercial loans in general- Not all but some so good to ask up front.

Yes I’ll be moving into a unit to satisfy occupancy requirements.I understand it would be best to put more down, however I figured I could wait another 2.5 years saving to put down 100k, or I could jump in now.This loan is only 5% down, however my next will be an investment loan and will require 15% down on an SFR.

I am aware of typical code requirements such as an egress window and minimum room size, but if there is anything else I should look out for in the new room let me know. 

The investor only needs a W-9 if they are paying you for something you will NOT be including on a 1099 and Annual Owners Statement (with your charges as part of the expenses).For any & every owner you manage for, you will need a W-9 from them, so you can send them the required 1099.You need to discuss with all with a CPA fast!