Tangentially, there are a fair amount of former STRs now being sold around town in part because of the regs and also saturation.  

As for your lease, Section 8 requires a Housing Assistance Payment (HAP) contract, but your existing lease can often still be used, with some modifications to ensure compliance with Section 8 requirements.Who Decides the Rent?

Self storage can be great, but super easy to replicate down the street, so tends to get overbuilt.How about looking for an existing rv park?

@Bob StevensI was making an assumption that rent was not up to FMR For example in my county if you forget to ask for your yearly raises the dispersion becomes massive and eventually FMR changes can be drastic YoY for a new packet versus keeping an existing relationship.   

Low inventory, but they exist.

Bond yields are non-existent.

Cash flow very rarely exists in this market, so don't try to fit a square peg in a round hole.

What is the reason behind wanting to build new versus purchase existing?

The only one I'm aware of is an existing property that they bought.

There are already many existing assisted living houses in my neighborhood, and I am thinking of doing the same, but only leasing my house.