Real estate transactions with non-profit organizations like nursing homes or religious entities can indeed be unique, but they’re often manageable with the right approach.

The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

Using a HELOC or home equity loan on your personal home could be a good option, especially if you can secure a low interest rate and manageable terms.

Yup, property condition, vintage, neighborhood, tenant base, property management are all very important considerations. 

Best thing is to call the housing authority that manages the voucher program in your city/county.

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

Greetings BP community, I recently joined a national senior care living development team.

Start with a good property manager.  

Do you have a property management company you use?