I am a RE agent and found a 20 bed licensed Adult foster care business listed on our MLS for sale a year ago.

If you don't have a tax professional already that you can trust and rely on to dive into the weeds on this stuff with, that is most critical to your long-term success in using the tax code to your advantage. 

hahaMicro economics are always different to macro and investors that solely rely on online market stats/demographics will miss the point.Online stats and demographics will never beat "feet on the ground" and real life day to day knowledge of what happens on the ground.For example, we know when a mosquito does a fart and Mike P always messages me privately about what new strip club is opening in Toledo and when heheOnline stats never reveal such things haha 

Keep in mind, when I have a bad month or an eviction etc it would be very painful if I was only relying on my rental income.   

I am in Cape May, and we are allowed to do as we wish down here, although the season is a 7-day minimum.You actually stand to do well and have less expenses and wear and tear from multiple turnovers, but those 30-day tenants don't grow on trees, so you are going to want to market hard.Please tell me you aren't relying on AirBnB in NJ - Tenants pay 20-30% more here and you get none of that overage - booking direct saves them that service charge and taxes, so you could actually up your rent and collect more yourself and they'd save $$.

The one I am seeing now relies on the user to bring their own estimates, and simply tallies them up.

Have you seen the actual septic design, or are you relying on the seller’s disclosure?

Instead of relying on anecdotal evidence with your horror story, perhaps do some honest analysis instead.The vast majority of the time a tenant like this will catch up, if the shortfall was caused by a verifiable and temporary issue.

The information contained in this post is not to be relied upon. 

I rely on inbound marketing vs outbound marketing.