. - We've found issues where owners was NOT on the deed and was scammed- We've also had to patiently explain to owners that since an LLC owned the property, that the management contract had to be in the LLC name and we needed proof they could sign for the LLC.2) Property Taxes: we make sure we know the status, to avoid tax foreclosure issues.- Took over several properties for an out-of-country owner last year that we're in the midst of tax foreclosure.

Quote from @Joe Yobaccio: @Chris Seveney I am trying a simpler version of a loan partial, but want to keep my name on the note and Colllaterlize it for safety of a lender and would like some feedback on the terms. 

Be patient. these are mid-term plays, so you must be prepared to go without the cash for several years.

Your budget can not dictate the safety of the project and your relationship with the town and permitting.

Safety alarms are always on the tenants to take over the account or make one.4.

. - Make sure you get a security deposit and perhaps do a surprise inspection of their current home.S8 requires an inspection (mostly health & safety) before approving a lease and then annually thereafter. - Not something most landlords taking care of their properties have to worry about.There are limits to clauses they allow in your lease.

I have no prior experience in real estate, however, am fortunately enough to have access to sources of income besides a fixed job salary that provides me additional CF and a long-term safety net.

Lesson: in a pro-tenant law city especially, don't do illegal things, don't have fire code or safety violations and if you ask someone to leave, follow all local laws.

Did you ever feel like your safety was an issue?  

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.