He will be required to have references and proper insurance but it's not difficult having him approved. 

I have several contractors I refer business to it really just depends on what you want done. 

This was not like taking out a regular mortgage, There were all sorts of hoops to jump through and tons of extra paperwork to fill out but my Realtor and Lender made the process easy!

Of the 50 units, I'd imagine only 10-15% might actually have cars that get towed regularly while the other 85-90% don't.  

Thanks @Daniel Alhadeff, when you say operator are you referring to an assisted living administrator?

Feel free to reach out if you would like more specific examples or references. 

We refer to this as reconciling to the previous tax return.As far as where to get the information to calculate some of these values, most of it can be derived from the closing/settlement documents for the fixed asset.To calculate depreciation, amortization, etc, you'll dig through IRS publications.

I just wouldn't refer to it as pretty high relative to historical rates. 

I’m also curious if it's possible to convert these units into regular apartments, as this property is located in the NY suburbs.

We took over the management and built relationships with the various agencies and have been leasing the units more regularly with 2 vacancies remaining.