The ony exterior change we are considering is potentially getting a permit to put a deck on the rear garage.Thank you in advance for your help!

Probably best to work out a termination agreement and find your next tenant.Of course, you have to consider your financials to carry a potential vacancy, location of the unit, how quickly can you rent it, etc...

I'd do it bc the potential profit would be more on my end.

However, after driving around for hours I think there's potential for off-market deals.

@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.

It has a strong potential for cash flow.

In addition, building into  the business model an intentional refinance in a short period of time, you are incurring double the financing costs, which eats away at your equity, and also resets your loan amount to potentially a higher amount if you are rolling in closing costs.

@Sonny Sach Yes, you definitely have the potential to benefit from a cost segregation study.

I would love to keep the home for many reasons - potential appreciation, landlord experience, tax benefits. 

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?