But you’re right, that’s about the average but depending on how nice the home is, whether each resident gets a private room, and the level of care/specialization, will all factor in! 

Never invest in residential property in NYNY and Cal and many other states are driven by wealth redistribution from property owners to tenants, not private property rights.  

I used a faucet as an example because that is an item that normally breaks down first and often observe customers walking down the fixture aisle at HD or Lowes looking for the least expensive option, whereas purchasing inexpensive tile or other cosmetic items won't necessarily cause maintenance issues although I would argue will cost you revenue (more on this below). 

The price for these 4200 SF buildings are very low about $135,000 per unit leased at $1350 a month and they have high end custom finishes and private patios, covered parking for 2 vehicles and usually all individual meters.

Bank, private, own funds.

The price for these 4200 SF buildings are very low about $135,000 per unit leased at $1350 a month and they have high end custom finishes and private patios, covered parking for 2 vehicles and usually all individual meters.

We added some custom details to the property to make it more appealing for our tenants as well as manage the property effectively and efficiently so that our tenants always wish to stay residing in the property.

As a private lender, I always ask for a current PFS.

As a contractor I love it there because of the customer service 

When you do private equity with a General Partner, there are so many thing you can do in a syndication that you cannot do alone.