You're going to want to start by checking with local zoning and planning to determine is the home can become residential assisted living.

Determine the rent you need to cover your expenses and then add the desired cashflow. 2.

- How do you determine the appropriate rental rates for my property?

However I recommend speaking with your accountant/tax advisor before making this determination as this may differ depending on the individual and their objectives. 

Both GC's work on distressed properties so are hedging playing it safe as I just asked them for budgetary numbers to help determine if I should do this deal or not.I do have 10%+ in cash reserves already.

Hey Joe, I am coachable and determined!  

Determine if the payout (post-deductible) would even be worth it.

If you meet this first test, you are a REP...now determine if you can use the benefits of it.2) if you or your spouse meet test 1, THEN you can make an election to combine all your RENTAL activities together for purposes of determining if materially participate in your rental activities.  3) So you met test 1, made the election under #2 - now you see if you materially participate in your rental activities. 

But before that, I want to know what is a good way to determine my purchasing power.

However, if they are determined enough to look up one of your current LLC properties, then search every one of them and look at transfer history's until they find that one link, they are probably going to find you regardless.