I've been on the western slope for over 30 yrs.I built my primary, its; Slab on grade, stucco, concrete roof, painted with E-84n roof soffits and tailings fire caulk (anti-ember) vulcan fire vents, 4 car wide concrete driveway, extra large house numbers, red 3/4" hoses on reals @every corner, completely denuded of vegetation 100ft.

If you have TIE, time, interest, and energy, self-managing is the way to go.Our clients already have jobs - surgeons, attorneys, executives - that don’t have time nor interest in another job.  

My client had some things come up that prevented her from executing, but these were some of the options I had put together for her, a regional bank, a regional CU, and a national bank.Reminder that NOI sizes CRE debt, and that's often what determines the down payment requirement, not anything to do with the client or particular lender, just the property itself.

Have every detail spelled out, use an escrow account and daily updates verifying all parties are executing their responsibilities.

They are often executing long term, intentional strategies that can get derailed if they sell/refi outside of the intended timeline.

Your lease purchase arrangement would be good as long as the senior or their family have enough money for assisted living care until you execute the purchase. 

Sometimes even with referrals and trying to vet an operator they still fall flat when it comes to execution.

You can also trade up these properties quicker into other properties where you can force equity.

That in itself is a skill and a needed over head component to keep from having investors get very antsy and then take to SM because they are not getting their e mails returned that day or next .. 

The LTR passive losses are reported on Schedule E and are not applicable to W2 income as I am not a real estate professional and earned above a certain threshold.