I have a guy that runs his own business.

Look for areas with planned infrastructure improvements or new business development—these are signs of future growth.4.

California landlords; it may be beneficial for you to thoroughly understand prop 33 during this election cycle and, depending on city, how it may impact your business 

I personally love Columbus in terms of doing value add.

Recommend you start putting more effort into your business or you won't succeed:)BTWL most PHCs will require 3-5 rental comparables to support any rent increase request.

I was basically scared for life and thats why I would PERSONALLY never take on a GP role.

I want to be able to maintain my business in both markets. 

I work a full time 9-5 and have a side business that I do on the weekends.

2nd liens are the best way to lose your money, are you lending personally, or are you working as a broker? 

And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.