Being the military, it had that definite institutional overtone to it, but the basic premise was the same.I recently toured a new senior's complex in which on end - for those who were still relatively self sufficient - had individual units (bedroom, sitting room / kitchenette ... effectively a bachelor apartment but without a full kitchen) clustered together in groups of 4 with their own common room / kitchen and courtyard.On the other side of the complex were units for those who required more assisted living.  

Quote from @Andrew Steffens: I think going into an STR purchase with reasonable expectations of cashflow in this current market and rate environment is admirable. 

We need the cash to mostly just tie us over untill we sell the property, so 150,000 is on the upper end; 80,000 and above would probably be sufficient. 

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

I've been informed that completing the course alone may not be sufficient to pass the exam, so I’m seeking advice on how to prepare effectively once I complete it.Currently, my only other resources include a YouTube video, five practice exams, and a textbook.If you have any additional suggestions—whether online or in-person, paid or free—that could help me effectively prepare for the exam, I would greatly appreciate them.

Another possibility could be a home equity line of credit (HELOC), if you have sufficient equity in another propertyGood luck with your project!

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

The best way to connect and learn is to be in rooms where it's going down.In terms of captial your best bet is to focus on a primary income that cash flow sufficiently, saving as much as you can and doing something real estate related so you can get familiar with the industry.