However, after driving around for hours I think there's potential for off-market deals.

It has a strong potential for cash flow.

@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.

In addition, building into  the business model an intentional refinance in a short period of time, you are incurring double the financing costs, which eats away at your equity, and also resets your loan amount to potentially a higher amount if you are rolling in closing costs.

@Sonny Sach Yes, you definitely have the potential to benefit from a cost segregation study.

I would love to keep the home for many reasons - potential appreciation, landlord experience, tax benefits. 

They have only seen one - and it came a day after I was in the attic fixing insulation that an electrician removed to re-wire the upstairs.

How does the demographic profile (age, income, health status) of potential residents in New Jersey and New York influence the demand for assisted living services?

He has a seller financing book that he gives to potential sellers.

Managing risks is key - you need to understand and minimize potential challenges like changes in the market, turnover of tenants, property upkeep, financial obstacles, and unforeseen costs.