What and how could I negotiate with the seller to make it attractive for both parties?

Everyone joint ventured in a project is motivated to get it done so even if one party can't be physically present time sensitive decisions will be made and everyone informed.Let me know if you want any specifics.

The hard part is all the regulations and hoops you have to jump through in order to create the assisted living business.

However, I am not sure how I would set up a business in which both parties are rewarded fairly.

The important part is to run your numbers with a vacancy rate, if you have less or none then it's just gravy.

You see the FCRA is a federal law passed and amended to improve the quality and accuracy of background checks while protecting the privacy and civil rights of all parties. 

They can have a third party (escrow) verify that the funds are sitting safe and sound within their escrow company.

If the third day falls on a Saturday, Sunday, or holiday, the three-day period will not expire until the following Monday or non-holiday.

I ask these questions as a general third party who is not familiar with that market. 

As a licensed agent, you have the burden of disclosures with the parties involved.