LLC’s can be formed in a matter of hours to days depending on how you go about setting up the operating agreement between you and your partner. 

If you buy a minimum of about 30 apartment units you can afford a Property Management Company and save your self the daily operations and maintenance which s typically what you want with a W-2 job. 

One to keep and one to destroy through the ICC testing process. seismic loading, fire testing, etc. etc. 

I am looking to buy a single family house that has an existing assisted living facility business occupying and operating out of the house.

But this would be for just normal operating capital.

(I blame only myself)I had a significant other who at the time commanded loads of attention and I thought “well, I’m a baller now...

They should be able to compile 3 years worth of original source documents to submit their operating expenses?  

Getting shut down after  a few months of operations and then having to deal with the fact that you just dropped a bunch of money in furniture sucks. 

Its a 6 unit building with 1 commercial unit that is operating.  

If you're new debt service was $613/month, operating expenses of 49% would result in you breaking even.