Disclosure: Previous, current and future purchaser of Matt Scott's services.I have personally used Matt Scott and Incite Venture Capital to create my fixed income fund.

This property gives me significant income, so losing it would be an extreme loss.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

Yes, about 82% of properties are matched to a person in DealMachine - you get their phone, email, age, birthday, income level, renting OR owning.

It varies by program.To learn more about DSCR programs: DSCR loans won't use your income to underwrite the loan.

If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

The reason not to upgrade, is that you won't get that much more income for the cost of the upgrades.  

My thinking is that by renting to a residential care facility I can effectively utilize all the space, earn above market rent, and help provide a needed service, while avoiding tenant parking jams. 

thats far more than you will make starting out as an agent.. but once you get stateside and if you are successful at Commerical RE  takes 5 to 10 years to build your book.. then big income is a reality..  

Quote from @Mordechai Chaimovitz: Can someone please explain to me why people are buying 2 flats that rent comps show $4,600 a month in income for 665k+?