I'm no appraiser but have plenty of fix and flips as well as new construction but IMO, it will be existing home. 

So you're going to have to do some research on the existing towns you're looking at to see where it's allowed and where it's not allowed.

Can your existing box support the addition?

This approach undermines the trust that should exist in a lending relationship.

We are solely working on assisted living:- Buying homes and leasing them at higher than market rates to these business operators- Purchasing existing businesses with the real estate- Developing / building newFor us, the business makes the real estate cash flow, we can create a massive impact, and the demand outpaces supply and will continue to be that way for the next couple decades.

I’ve had several investor clients go with a new (to me)/ unproven lender because of a slightly lower rate promise only to get burned by that lender (closing costs were higher, appraisal costs much higher and appraisal was a nightmare, main point of contact gave us the clear to close as we passed our financing contingency then just before closing someone from the underwriting department we previously didn’t know existed said we need a few more days and seller didn’t agree because they had a higher backup offer, jeopardizing the earnest money and losing the property, etc).

All that said, and to answer your question, I think a guaranteed check for 66% of the rent offers some peace of mind and limits potential loss. 

In the “c” offering solicitation and advertising is allowed, and no preexisting relationship need exist. 

If you can't find an existing multifamily to pencil out try to identify something that you could add an ADU to or a larger single family home you can split into more than one unit using ADU rules.

Securities and Exchange Commission in January, the company’s real estate business lost $1.12 million, although the firm had relatively little debt compared with the stated value of its assets.The company also disclosed that it may use new investors’ money to pay dividends to existing ones.