Establish Your Goals: Make sure your objectives for house hacking are clear.

Too many questions on how a 501c works with respect to liability and the underlying intent of the 501c owners. 

The Establishment Survey (businesses + gov’t) showed that the US added 206,000 jobs in June, slightly above expectations.

Quote from @Jeffrey Abraham: What is the NOI on the facility and how many rooms are you renting I think you could do it as a dscr loan and refi it with a hedge fund and get 65% cash out and close with 14days Established and competently run assisted living facilities aren't ever NOI/DSCR-constrained, so that's not important for the asset class. 

For 2-4 unit househacks, you would have a minimum 3.5% or 5% downpayment for FHA and conventional respectively. 

So, the difference in price & closing costs would establish firmly the amount.

I respect this though, this is a great way to put it, and I would advise the same thing for others as well.

In fact, nothing was ever done.To make matters worse, I have another Fund That Flip deal that has gone south with little hope to recoup that investment as well.The loan was made in June 2018 and they stopped paying a year before Covid started and this is their latest comments:The developer remains non-responsive to Fund That Flip’s communication attempts to discuss foreclosure alternatives.Foreclosure counsel is waiting on the court to schedule a hearing date for the judge to rule on our motion for default judgment.Fund That Flip continues to work towards re-establishing contact with the developer and their known colleagues to discuss a successful exit.

Cleveland is an excellent market to get started, and you definitely want to establish your 'boots on the ground' here before diving in - an experienced property management company is a great place to start (Bonus if they have a sales team attached - making it a one-stop-shop!).

This helps to establish a "detrimental reliance" (implied contract) legal standing in case they attempted to go back on their notice.