How would go about finding elderly to fill occupancy for a small independent living facility?

In speaking with one of the neighbors I learned that the owner is in an adult facility and not expected to return. 

You can delegate the rights of enjoyment to common areas and facilities to anyone who rents on your property.I serve on the board of a large HOA in Texas and we have zero problems or liability issues renting to those who lease.Good luck to you.

that's how we ran out HML company for every 500k in cash we got 2 mil in lending facility and we make money on points and the interest delta.. its a great business done right.. far more profitable than rentals for sure. unless your buying in a market that will show nice appreciation.. but its a business. you do have to run it. 

@Kevin Zheng   Dollars and cents aside - what is best for your mom - there's pro's / con's to all 3You're asking a somewhat vague question as there are lots of things to consider - such as how much money she has (will she outlive it and eventually go on govt assistance -- the answer to this really could help you in your search for an AL facility or SNF (skilled nursing facility) --- What are her present needs - how is her health - what does she need help with presently?

In some areas, particularly the West End, this proposal could limit the revitalization of the area by keeping tourism dollars away...IMHO. 

@Johann Jells She is referring to a private residence, not a commercial structure or public facility.

I hedged my bets that the property would hopefully go up since the Arizona market had been so badly beaten up and that the location was so strategically located to a very popular campus ( Arizona State University) and there was speculation that they would be building the Cubs Spring Training facility across the street ( lucky for me they built this 100 million dollar facility)..

You didn't mention the gulf coast, but relative to the tourism-focused cities on the east & west coasts, our prices can look like a steal.

If suddenly a 50,000 unit complex opened, without any public input, in the same neighborhood as all of your units, offering $50 rent and state-of-the-art facilities, would you feel that someone should come in and protect your investment by guaranteeing a minimum rent?