However, the whole point of making money is to live a better life, which includes caring for family.

I'd think it would be a better fit for seniors. 

I’m all for value-add and if you need to pull cash out to get another deal that makes a higher return then how much you pay for it, sure, but I think you would be better off selling it and starting over.

Get a nice downpayment (lower LTV better)Hope this helps

It always better to be safe than sorry, but the building dept will let you know what the best course is.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

The picture they have on Zillow vs one of the several I have with the same view:Your pic is better than the PM's pic, but that pic isn't why your unit hasn't rented. 

Do you see them as a viable option early on, or is it better to avoid them altogether?  

But in my experience, you would be better off spending that same amount of time/hustle working a second part-time job with guaranteed income, then investing in buy-and-hold properties. 

Better rate would help your cash flow.i would pass,  more relevant is I recommend you pass on this purchase.good kuck Hi Dan, thanks for the reply.