We are thinking that the best route is to build a single family residence on one of the parcels , with placement considering future development, and create two assisted living facilities out of the existing rambles.  

These appraisers do not make more money just because there is more work to do so they are incentivized to do a volume of business and not take precise detail in obtaining an exact science of a value for you.

The quick gist is these are people who go through the process of becoming registered with the SEC in order to offer a private placement memorandum (much in the same way as one would participate as an angel investor) but for the purpose of buying a larger commercial/multi-family asset. 

Actually in Baltimore City most people charge one full months rent for tenant placement. 

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

Best to do that with Reg D paperwork and a proper operating agreement and private placement memorandum.

Combine that with the fact that the buyer doesn't have to pay the lease up fee for the first tenant placement and have all of the carrying costs while the property is being fixed up and marketed for a tenant,  you're not getting any bargains on the MLS and often are buying  property with a lot of deferred maintenance and CAP Ex expenses.

They held me to a 30 day notice before I could advertise with another PM, otherwise they would have claimed rights to the placement fee ($1200).

Our minimum investment is $10 for precisely the reason that you mentioned---diversification.