Depending on what you want to do they can be very,very involved.Most developers are buying value add buildings already constructed and operating for less than what it cost to build new.They are still building in areas where demand is really high and not much product is available.With that you have to see who is building what and where and how many other applications for new buildings for the area are in the process.You have to time the market with your land purchase,build out,and lease up so that you are not finishing your product in a saturated market.You can have 55 and over regular communities, acute care only,or a mix etc.Income is good but management and regulation is more intensive.Depending on size you would want to bring on a senior housing developer with a track record of experience.

Excellent suggestions-thanks very much!

Looking back at our own investing - there is a lot of lucky choices that were made allowing us to get out of one product at the right time and move into another area of real estate.

Networking is an excellent idea to find real estate deals.

He gives excellent tips.

Depending on your locale, its pretty easy to check local newspaper classifieds, and online sources such as Craigslist which are excellent in many markets.

The products chosen provided the greatest VALUE for my application- an appearance different from (equally important to not be horribly different!)

How could the land be put to productive use?

They had to have a really excellent shell game going to convince you that a $700 a month rent payment would cover that mort. or did they play on your greed when they gave you 36K cash back?

Most major cities have excellent cashflow about an hour outside city limits.Tim