Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting to such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property to standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.I know tons of investors who are renting out their properties using this strategy here in Fort Worth. 

We are upgrading with Luxury Vinyl Plank (LVP) flooring, this is an appraisal point and they last longer than the standard flooring, The extras windows (free), granite countertops because once again it helps with appraisal but also last a long time and they check a box for renters, and a few layout modifications that i believe add more value and let the units work better given the site layout.

If your region's MLS doesn't use Paragon's undocumented API, the code won't work without significant modifications to the get_properties() function.

1st mortgage is current. 2nd mortgage they recently did a loan modification program.

The way to get around it is with structural modification of units that displaces the tenants or if they don't pay rent. 

While a good list helps, talking openly with tenants about property expectations is also vital to prevent unnecessary damage.

Renewal Fees are a vital part of a Property Management agreement. 

I was just wondering how it would work if they tried to do a loan modification or file bankruptcy even through I’m making the payments. 

If you elect to do a modification of the existing loan instead of a refi there will still need to be a new search and an endorsement to the existing policy date through the recording date of the mod. 

Street lights, pot hole maintenance, water quality, sewers and hospitals... are vital to safety and the value of your real estate.