Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting to such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property to standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.I know tons of investors who are renting out their properties using this strategy here in Fort Worth. 

No offense, but when there are tenant problems, an excellent PM is worth their weight in gold. 

Generally, higher cash flow means more potential work and more monitoring of the property, two things you'll do much better if you invest near you. 

They can monitor the property, especially during and immediately after the eviction process.

These geniuses thought if they simply put it at an angle the wood support it's own weight.

I do it all the time to houses that have never had central HVAC and don't have any duct work.You can control the temp in the house from one location and even add a programmable Wi-Fi thermostat for remote monitoring and control.You won't be cutting holes in the side of the house and making it look like a hotel instead of a nice house.This will increase your resale value over the other options.Mini splits and window AC units look ghetto to me, so I spend the money to do it correctly.

No don't hire a PM until you can scale - that landlord experience is worth it's weight in goldHappy to connect and talk through more questions any time - my answers are just based on my personal experience so take them with a grain of salt!

The one thing you don't want to have to do is drag someone around with dead weight and them absolutely hate everything about RE, and it sounds like your spouse is at the beginning stages of RE!

I'm monitoring the rental situation on Zillow, specifically in my focus zipcodes.

I bring this up because if you call an agent and let them know you have a preapproval letter then the conversation seems to carry a little more weight.