You would have to meet the 2% rule and get lucky on the 50% guideline to meet your objective but it is do-able and without any appreciation The rub is that in order to sustain that level of growth on a compounding basis you need to re invest the income at the same rate and also you need reserves.

There are different levels of stucco finish. 

However, 67213 is a very low income zip code (review city-data.com), with almost half the residents living below the poverty level.

My investing knowledge is at a beginner level.

If the banks maintained their current level of inventory control, there’s no telling how long they could prop prices up.Jeff

I worked on a similar level to this at Hines for many years, have strong ties there and would like to open a dialogue there and with others regarding this.

I've had college kids who would have had to pay more in premiums than the stuff was worth.

I would guess getting 20% appreciation in the next 6-8 years would be the top end of possible expectations, unless there's something you know that's going to happen in your area to drive that level of gains.

Some towns with colleges don't allow students to living in certain parts of town. they want to keep the drunken college students on their side of town. so far there have been no court challenges to either of theses zoning regulations restricting students or special needs.7.

Chuck, sorry the "mention" didn't register, I found this.Adult assisted living units are often based on population and zonning, which means it goes before a zonning board who are wined and dined by other AL operators to keep zoning restricted, if not at that point, at the licensing level, politics are always involved.Your best path with least resistance is getting with an existing owner operator and partner with them or build for them and arrange a lease.