I think most people would agree that a single family home is better than a condo for a long term rental.

Each grouping had a common room (perhaps it was shared by multiple groupings ... this was a detail I missed) with a nurses/aid workers office.Central to the two sides of the complex were common facilities such as a dining hall, gym {perhaps a pool ... another detail I missed}, theatre &  games room.With one of the fastest growing groups in our society being single people, we are examining a related idea of a  complex / building providing a modest-sized 1-bdroom "apartment" with more semi-private and common amenities.When I read the title to your thread, I thought it was a project proposing to mix students and seniors into a single complex ... and came in thinking, this ought to be interesting :-) 

Reach out to them for terms on a HELOC. should be much better than Better.One look at that and i would tell you it's wayyyy too high, but there's not enough info from your post to determine what is contributing to that interest rate.

Our firm focuses on property management and helping owners maximize the return on investment after the purchase which is crucial for the long-term performance of the deal.

The vast majority of your wealth gain in real estate will be by holding properties long term and the appreciation/principal paydown will slowly but surely help you become wealthy.For 90% plus of people out there who are looking to start, house hacking is the best way to go.

Rent growth has been flat over the last year so you need to account for flat rents near term.

If the seller is insisting on a high price with not-so-hot financing terms, though, this may be a riskier project than it's worth.

Quote from @Elam Fisher Jr: Anyone have experience with mid term rentals in Baltimore city?  

Real estate has long been the foundation of lasting wealth, proven by historical and modern moguls alike.

I do find it fascinating that I've heard from several developers that they are building/built apartment units for the long term, which to me sounds a bit risky.