Renting to a group home or adult care facility can be a viable option, but it comes with specific considerations.

I understand that there are potential self storage facilities that can return 20% cash on cash if improvements can be made.

Ok, for anybody still interested, I located the applicable regulations.Performing repairs yourself on property held within your SDIRA fall under United States Code: Title 26, § 4975, subpart (c)(1)(C) which reads:(c) Prohibited transaction(1) General ruleFor purposes of this section, the term “prohibited transaction” means any direct or indirect—(C) furnishing of goods, services, or facilities between a plan and a disqualified person;As stated above, it is a little vague and subject to interpretation.

Might want to tone it down if you genuinely want to learn from others, unless you just think you know everything, in which case you shouldn't be posting questions or voicing frustration, as you'd have solved everything and have a well-oiled operation in place....

Like is used to clean the driveway with when there's an oil spill. 

I could save a whole lot of cash mowing my own grass, ironing my shirts, painting the kitchen, organizing my garage, and changing my own oil.

And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.

A warehouse building that was turned into a dog training facility and show place.  

Hi All - I have worked in banking for much of my career but would like to possibly transition to a role in property management or facility operations. 

We dealt with rentals, flips, commercial, small apartment complex developments (~10 apartments), sport facilities, and a few government contracts.We are actually very open to different opportunities and investment approaches, but our plan was to start "smaller" with some cash deals in NJ (maybe somewhere in the area between Staten Island and Philadelphia, but staying in NJ), by flipping a few smaller properties and starting to generate some income.