vacancy rates for off season and when hurricanes come through. how about your liability, is the condo itself covered(liability) and are you, in excess of a typical owners policy?

They left without me having to evict them or excessive drama, because they realized I was treating them fairly, even though their situation was a tough one. 

We do have an addendum to our lease that we include regarding water use in the event of excessive use.  

If there are already built assisted living facilities, there likely isn't excess demand to justify building another facility.

@Sasan Nemabakhsh...Feel free to take what I'm going to respond with a grain of salt, and while not exactly the same, I've worked on some hospitality construction financing, and the lender I've placed with has appetite for ALF construction.I don't know about construction cap, but end should be running at a 8ish, on ALF, from my knowledge.You should definitely get a 3rd party feasibility study done to determine the answer to the question of market due diligence.  

I'm in the process of buying my first property (a condo in the northern suburbs), and I close in mid-October. It will be my primary residence (not an investment) and I'm putting 20% down. My FICO is 804 and I was appr...

That all depends on what your appetite is.

I would also add real estate and bonds to the list as well.I think we are in a deflationary environment (i.e. too much debt and excessively low interest rates) and expect the value of most asset classes to fall over the coming few years.Like you, I'm saving my cash and hoping to buy my first rental property when prices come back down.Best of luck with your investments!

I explained everything to them, it sounded like they are willing to go legal, I bailed out as I did not have appetite, so I let them go.Learnt two lessons (1) re work on my lease contract and make it fool proof (2) build network with fellow investors in the neighborhood to guide this rookie :)@ronald Rohde, Bart Hedgecock - can I use TAR without paying top dollars to leasing agent or Attorney?

Should a bid be received by a third party in excess of this amount, the third party would win the bid and get a trustee deed evidencing ownership after paying the trustee with certified funds.