Unfortunately, I do not have any recommendations but be careful on who you select.

We have some single family rentals and it appears that our property manager might be going out of business.

Of course the co-signer should be significantly stronger in ALL areas as compared to the applicant...usually this is a parent or relative, and they should be well established, with ownership of real estate for years; long and stable employment; no, or very distant, criminal and traffic court records; well funded SAVINGS/IRA's or stock market accounts.

I want to provide a safe, structured living environment for individuals transitioning out of recovery or other challenging situations.I’m new to this process and was hoping for advice on the following:How to navigate zoning laws and permits in Montgomery for this type of setup.Licensing requirements for sober living or group homes.Strategies for finding residents or partnering with local organizations.Financial and operational tips for managing this type of property.I’ve heard zoning can be tricky and want to ensure I comply with all legal and safety requirements.

But what you stated seems like it could be a good idea.

If it takes all or most of the proceeds from the sale the settle the debt then there would be little to no income.  

@Shivani Brijmohan, while I cannot speak to NY, I will say in general:You should know how the property will be reassessed when you buy the property.  

I am not sure the best action but I am an investor and wholesaler in New Orleans and would be happy to chat more and see if I can help.

I’m no polished writer, and my grammar might not be perfect, but I hope to find some fun and value in posting here regularly.

Any help would be much appreciated.Thank you!