This house is 2400 sq ft 4 bedrooms (3 on the main level and 1 in the basement) as well as a family room in the basement.

That can be an issue.If the new investor needs such a small amount of money that shows the lender their level of financial expertise.

But there are different levels of motivated sellers.And I've heard DFW market is intense right now.  

Perhaps I should have phrased my previous comment differently...Of the facilities that accept Medicaid we visited in our area, none met our requirements.We chose a nearby non-Medicaid facility that's about $5.5k/mo for 2 ppl in a 2-room suite including elevated level of care. 

You can't mix and match.At that gross revenue level, it's very possible an S election and/or a Solo 401k make sense. 

I do, however, recommend that you surf bigger pockets and brush up on some beginner level investing principles.

Other than a response of knowing what your comfortable debt level is, how do you decide how much debt to put on a rental property, if any at all?

Learn the system on a local level. 

It seems that if they are a certain level of established that it can be bypassed.

Account Closed, There's a few levels to your scenario.