If PadSplit is already operating in your city, there shouldn't be a problem with that. 

Is there a better way to find out how many existing units are there in each town, or do I need to drive to each facility and ask?

Now, I'm imaging a scenario when every one of these tenants move out that I'll be paying their entire security deposit + interest even if there are damages beyond normal wear and tear. 

Can you figure out for example who has seniors in high school and do they have any other kids at home. 

But there are a boatload of investors who are leveraged who never prepare for even a slight down turn on rents .

Any insight would be great. 

VG  when you talk about NOTE FUNDS are you talking about Note Funds that buy or originate notes secured by real Estate or are there other funds that do the same model of raising money on unsecured Notes ?  

If you are patient, it will come into focus for you.Best of luck as you get going, and feel free to ask any questions.

There are plenty of them out there

There are some HOA's that are in such bad shape they wont allow any type of loans and it must be a cash purchase.