Assisted living, memory center, continuing care, rest home, independent living, ambulatory care are all terms for what you might be looking for. 

Is anyone doing a Residential Assisted Living strategy?

I am reaching out for guidance and assistance as I embark on my journey into real estate investing, specifically focusing on rehabilitating and renting properties.

If you're trying to fund itself yourself for smaller commercial real estate, that's your choice but I'd take ags, minerals, energy, infra over that anyday of the week.

So I'm thinking that I can create a SEP IRA and use it to loan to my friend instead of using my personal equity. 

You could put both names or create an LLC if it's a rental.

You can also contact local Realtors for assistance; for example, here in Charlotte, I work with clients who are not ready to buy or rent.

Create a rough list of what you will respond to right away, and what can wait.

I say that to say they are getting much better with phone response times, and will even do callbacks now.If you or anyone you know need to call for whatever reason, call the office in Ogden, Utah if you have a choice (some forms list multiple locations to call).

What I'm really doing is creating a "workshop" space that's part of the house that can be used towards a business write off, but can also be easily converted to living space with plumbing/wiring already installed in walls/floors.