I am looking for some advice from all the smart people on this website :)I have a family member that is offering to transfer over their home title to my wife and I.

With the expansive reach of online real estate data, more people can see more details about a property. 

On the next steps you have hit a lot of peoples dreams.

I know NOTHING about these types of transactions and I am hesitant to just give someone 50K without a good understanding of what I may be getting myself into. 

Referrals may be a big part of your business so I'd recommend creating a business page here and having some of your customers write you a review.Lastly, one of the best ways for people to find you is through your profile.

I understand there is no perfect answer here.

I understand this is the way syndication works with multifamily properties because the operations are generally only a few people, however, in senior living, the operations are much larger and more litigious because we are providing 24-hour care, medication management, meals, transportation, activities, etc. 

As you talk to more people and educate yourself on the market you'll get a feel for how similar vendors compare and can make a decision on who to hire.  

I have invested in residential RE so far and understand financing options there but I am new to commercial RE.

I think that this could be a great way to find people I could help get their homes sold by assigning them to a contractor/investor buyer.