An existing Facility that's being properly managed should have an expense ratio of 32 - 35%, that is the industry standard. 

So you need to make your leases flexible enough to allow for an occasional flunk out or unplanned medical issue. 

I support myself and my girlfriend while she finishes up medical school(graduates in 2020).

How would go about finding elderly to fill occupancy for a small independent living facility?

I have been interested in marketing rentals to medical professionals for awhile, but haven't done any deals like this yet. 

Also due to major medical bills my Ficos dropped to 700+- though after working with them my current ficos are under 800 and should be in the low/mid 800's again pretty soon!

Don't forget to have at least 3 to 6 months emergency reserves for your own protection from unforeseen personal expenses...medical, car repairs, unemployment, etc. 

In speaking with one of the neighbors I learned that the owner is in an adult facility and not expected to return. 

Opioids from Johns Hopkins and the University of Maryland Medical Center continue to flood the poorest of neighborhoods, leaving the African American communities in a perpetual state of addiction, along with the need for constant government assistance programs.

Last year was a good year for my business and between student loans, medical, and a small amount of consumer debt, we paid off a whopping $34k in debt in about 13months and stashed about $10k in savings.