Upon further investigation, I found several more properties under similar circumstances.At first glance, it seems possible that these properties were either gifted to the nursing home by former residents or claimed as repayment for services rendered.I’m new to real estate investing, I’ve been in the education phase for the past 2-3 years.

Don't get stuck in the analysis paralysis phase, it's no fun and you don't learn as much :) 

Options like a unique amortization schedule or a 3/2/1 or 2/1 stepdown interest rate could provide initial relief to get you through the renovation phase while giving the seller confidence in a structured payoff plan.To determine an entry point, consider reducing the price based on the current NOI.

Franklinton has been seeing lots of developments like the completion of Gravity Phase 1 and phases 2 and 3 on the way.

The buyers and potential renters in that particular neighborhood will not be phased or even aware of that kind of violence. 

I heard a podcast the other day with a host saying something along the lines of "there's 3 phases of investing: starting, scaling, and harvesting."

Have you thought about this approach or considered a phased plan to build up your portfolio?

., I'm in the data gathering phase at the moment, trying to suss out a feasible market.

Still in the looking phase! 

Because the first few months may be great, but after the honeymoon phase, they might morph into messy, noisy goblins.