If by Adult Family Home you mean a non-medical "assisted living facility" (ALF), these can be quite profitable. 

We definitely don't want to limit ourselves to a set number and upon hitting it cease all action for the rest of that year.  

This includes medical malpractice and auto accidents, both of which are significantly higher than what you would see with a landlord slip-and-fall or mold injury claim.3.

I have never ceased to be amazed at some guests, lol.

There is an opportunity to invest around the medical / vet school.

most will have medical collections this is not counted against them.. but if there is collections from Cell phone and Cable etc.. then they will be problems.. at least that is what my clients tell me..  

It is also near a massive medical campus that is constantly growing in a decent size metropolitan area.

You will probably have some sort of limit regarding mold/medical, but thee things can turn into a mess, trust me, I manage a lot of units and have done so for almost 30 years. 

(aside from the very obvious medical/industrial appliances/equipment).

I suspect NAR and other orgs will start to go head hunting for these folks.Crap I made one post on BP about doing a mortgage in NV and promptly got turned in by someone on BP and subsequent cease and desist from the state of NV>. even though I never ever did a loan there.or States are trolling BP.. so in this instance the OP talk about how he does deals he would have no defense if in fact his activities are subject to licensure.. that's the funny part of BP folks getting on here talking about what they do and a lot of it simply is not within the RE rules.