Buy the best deal you can find and in 10 years you will look like a genius.  

Most likely galvanized pipes. 

You don't want to get stuck with negative cash-flow because you can't find another care facility tenant to rent it.Also, probably want to check with your insurance provider and see if all those tenants who are likely to fall and break a hip are going to be an issue for them, and look into the legality of what happens in the care facility owner dies and you're stuck with 5-8 tenants in the home with no one to care for them and no living descendants.

I guess there has also been talk of moving some government entities out of Washington, like the FBI.How does all that factor into your analysis?   

Lemos:  Interesting.. does not sound like a secured interest in the note.. kind of like how Peer st. had their partial interest done.

Are you targeting any specific areas/neighborhoods like Maywood, Garfield Park, Speedway?

The last thing you want to do is move forward with what seems like a great deal but not be able to close. 

Quote from @Dan Hertler: I currently manage some of my out of state rentals, but would like to create my own property management business locally in New York (Long Island). 

Although not a legal requirement, it'd likely be required by your lender.

Hi Robel-Thank you for sharing you have been experiencing self-doubt and its is making you feel like you will fail in your real estate investing.I appreciate your honesty and making yourself vulnerable with the question.