Im bringing 400k myself the purchase price is 10 million its an assisted living facility  do you have experience running an assisted living facility?

Every property will bring its own lessons, so just be ready to roll with the punches and use what you learn to make your next investment even better.

Don't solely rely on third-party management companies; instead, focus on building a solid asset management plan and, if needed, bring in experts or partners who excel in this field.

Some info below:https://www.clevelandohio.gov/sites/clevelandohio/files/Loca...From the City of Cleveland website:"The City of Cleveland’s definition of “Local Agent in Charge” is in Cleveland Codified Ordinance § 365.01(k).

You could also bring in a partner to buy out 1/2 of your equity position. 

Texas specifics does NOT exempt landlords, according to this website. 

When you say professional quote do you recommend just paying a trusted contractor to do a walkthrough or do you first recommend getting an inspection to figure out what’s fully wrong/needs to get fixed before bringing in a contractor?

Webinars about the project can bring people to see what you are offering.

Dan, I appreciate the thoughtful response, many things to consider and certainly a lot of great information.For the expenses, yes at 33% I would agree it is a little thin.You bring up some great points as it relates to opportunity cost and the payback period with a large down payment.

I’m excited about the potential of this project and hope it can bring value to the real estate investment community.Looking forward to hearing from you!