They will also incorporate a construction type loan you can work into your loan package for the remodel.

The Main reason id like to do it is the access to MLS and for education. 

For Medicaid there is a 5 yr lookback on assets/funds - Medicaid can pay for assisted living - however few facilities work with medicaid (or whatever the program is called in your state - in KS it's called HCBS - Home & Community Based Services)  - I'm not fully educated on medicare which kicks in for SNF - skilled nursing facility -- so I do not know the nuances of that -- if there's proof of elder abuse regarding funds I'd guess the local authorities and possibly Medicare/Medicaid could come after the guilty parties.

What if I was to incorporate a business that held both my healthcare 1099 and my rental properties? 

I was planning on incorporating my future real estate company to protect myself and have the tax benefits.

Account Closed I’ve been accused of that :) Yes I think there’s an educational aspect.

I would recommend before you start to put time or money into any project you should first make sure you are educated in which path you are choosing and make sure that there is a goal / reason for that path.

During the next 12-14 months, I'll be focusing on my education, networking, and saving. 

Find a reputable flooring dealer and asks them to educate you on why the commercial quality floor material is better.

I figure its a good place to wet my feet, and continue my RE education/find a better market.