As an assisted living arrangement, I would expect there are professional contracts in place with medical and technician providers for the benefit of the residents.

I suppose I could A) Try to revamp the property (although I don't want to invest a lot of capital), B) Sell it, C) Switch to LTR or mid term rental (Furnished Finders - traveling medical professionals).All suggestions and insight are appreciated! 

I think the best areas for a MTR are near a hospital for travel nurses, or near a university for students, even near the action of downtown for musicians and travelers.That being said, the Nations is a pocket of Nashville on the West Side that I think is perfect for that due to proximity to lots of hospitals and medical facilities as well as some universities. 

Because, if a 1099 "contractor" (home depot parking lot day laborer/craigslist gig worker) gets injured and gets denied a WC claim because I was legit paying him 1099, then he would want to sue me to get his medical and liabiltiies. 

$1MM liability per person seems rather steep, but I'm not an insurance person and I do know medical bills can ramp up quite quickly.

@Alice McWilliams Have you looked into marketing to medical professionals?  

There are probably tons of other things that would happen as a result of Section 8 ceasing to exist but these ones just popped in my mind.

We would only use it for a major catastrophe (massive medical expense, loss of job for extended period, etc.), not for something that we should have planned for (new roof, car repair, etc.).

That policy protected walls, plumbing, etc up to about 30% of my loan value...and it had small coverage amounts for medical bills, sewer backup, etc..and that ran $1,300 a year as an occupant.

Due to medical problems a wife collects disability.