When you say long term game, I will keep the gas stations (it will take long to completely wipe out gas phase) with a potential to stream into multiple different source of income.

More info on DSCR loans:DSCR loans won't use your income to underwrite the loan.

The unfortunate truth about cheap properties is that a hot water heater and a roof still cost about the same as a proprety in a more expensive areas so your repairs/vacancy/capex is going to eat up a larger % of the gross rent than a more expensive property even though the $ might be similar.

It's now 5% and the rental income from other units counts toward the underwriting.

Can definitely get no income no doc construction loans that would allow for it 

I don't know if it's easy to switch as the LLC is newly formed, without any tax/income historyAny other way around re-financing?

There isn't any room to push the income higher other than potential natural appreciation of the rental rate over the course of each lease renewal, which is also generally going to be 12 months.

A good manager can protect your property, income, time, and sanity.

How does the demographic profile (age, income, health status) of potential residents in New Jersey and New York influence the demand for assisted living services?

Seems to me it would provide a more consistent face to the tenants and would streamline income and expenses tracking and payments.