The cost of entry is low, and cash flow is high.

What are the key financial performance indicators for assisted living facilities in New Jersey and New York?

If I could chime in to help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I highly recommend starting by tuning in to the BiggerPockets podcast for starters.

@David McFarland I second the comment that if they can’t pay the rent now it’s highly doubtful they will be able to pay it in the future.

My thought is that it's better to own fewer high quality properties than lots of cheaper ones. 

In the event Sellerfails to close the sale of the subject property pursuant to the terms & provisions of this Agreement, Buyer shall be entitled topursue legal recourse for specific non-performance and shall be entitled to compensation for any costs associated with suchactions, including but not limited to escrow fees, title fees, attorney fees, court fees, etc.

One reason that the property was listed within our price range at all was due to the fact that the previous owners performed limited deferred maintenance on the property and were eager to unload the property due to a dissolving partnership.

I would also highly recommend you starting the loan process now.

I’m assuming that I’d have to personally guarantee the mortgage as the LLC is fairly new (18 months) and the cash flow from the property is not especially compelling given the current high interest rates.