That was kind of my thoughts is I got quoted for 8.9% on a HELOC but running the numbers on a long-term rental just doesn’t make sense. buy more doors and let rent and debt pay down and equity do its staying overtime but there’s also a lot of pucker factor if everything doesn’t go according to plan. 

To me, I always stayed away from those areas even if the discounts and cash flow were greater. 

Looking forward to staying consistent & closing my first deal in the next 3-6 months.

You would simply place all names of occupants on the notice, pursue eviction, execute eviction of those you did not want to stay and let the others stay. 

You’ll want to check out the PA Code's Chapter 2800 for the standards around licensing, safety, and staffing requirements, and the Assisted Living Residence Regulatory Compliance Guide can provide extra insight.We actually have a local team here in Allentown that has worked on several of these conversions, so if you'd like some guidance or just want to chat through the process, feel free to reach out.

We both grabbed on to the top of the cubicle to stay standing up.

It sounds like you’re facing a lot of challenges, but you’re already taking the first steps by seeking advice and staying open to new strategies.

Here's a detailed guide on how to screen applicants: Application Screening Guide

If they were trying to screw you they would just stay for 3-6 months without paying.

I'd suggest looking into Wes Moss's work as guide to getting out of your W2.