It was suggested that we create an operational company that will lease rooms to individuals in recovery.

$280k home for $2,500 rent is a personal choice.

It depends on where you want to live, income, personality, and other factors.You could buy a large home and rent out the individual rooms to cover expenses, but this comes with problems.

HELOCs are not available because they are residential loans guaranteed by individuals and what you seek is a type of commercial loan or credit line which are available to seasoned companies with proven financial track record.

for folks in So cal  I think Vegas is a great choice   1. you can drive there   keep in mind flying to other parts of the country to check on property is going to eat up 1 months rent if you go annually.2.

2) You MUST screen these people before renting to them, but you can use FurnishedFinders screening tool3) Otherwise, you can put your choice of screening link in your ad or include in a response template in FF.

After talking with an operator I felt he was a good choice for a tenant and he mad a great offer above market for the apartment so we agreed.In the past I would usually rent my own units and to stay competitive I would keep an eye on the rentals in the area and try to be one step above if I could....This time that was a little tougher as the neighborhood hasn't gotten very trendy. 

@Bob Asad I like the individual sub account method escrow account, but there are multiple different ways to hold security deposits and multiple laws in different states.

The Housing Choice Voucher program here is run by CMHA (Columbus Metropolitan Housing Authority).

I also enclose below the text of the relevant section for ease.https://www.flsenate.gov/laws/statutes/2020/553.79QUOTE(14) A building permit for a single-family residential dwelling must be issued within 30 working days of application therefor unless unusual circumstances require a longer time for processing the application or unless the permit application fails to satisfy the Florida Building Code or the enforcing agency’s laws or ordinances.UNQUOTEThe previous link to the City of Cape Coral citizens portal lets individuals see permit details for a specific property address, the progress with applications, and if not using a private provider the status of inspections.