Greetings BP community, I recently joined a national senior care living development team.

Hire a property management company who will manage it for you.

Hey John,I work with several different property managers, which I refer to for my clients (I'm an investor friendly agent over here).

Try interviewing at least three managers.1.

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

Most traditional property managers don’t handle this setup due to challenges like managing tenant disputes, coordinating overlapping move-ins/outs, and the risk of Fair Housing violations when selecting tenants.

The truth is, a good host will spend time managing each rental.

After years of self-managing our single-family rentals, we decided to hire a property manager to provide full service management.

If you feel like you’re managing your property manager, it’s a strong sign that the manager may not be the right fit.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.