We are a community of real estate investors and other professionals including CPAs assisting RE investors nationwide.

Not the only way of course just sharing my experience. 

@Nicole Starke Welcome to the community, BP is a great place to help in all avenues of real estate.

Thanks for sharing your perspective! 

Any processes to share and/or tips/recommendations?  

I want to know what my obligations as landlord are and then make a decision if I want to go above that line in any capacity by paying or sharing the cost of something that I am not required to do.Regards,

We are super excited and in the process of purchasing a home to turn into residential assisted living space which our community desperately needs.

Hard money loan through community bank.

You can share that with your accountant and start to have a conversation now of what your tax liability (if any) from this deal may look like and start to develop plans on how to potentially mitigate those if they are substantial.

Shouldn't be an issue as posters above have shared.