Hi BPers,I have come across a SFH in a good neighborhood which is presently leased to a senior care operator.What are the pros and cons of buying such a property.Thanks,Meena

Hello,I have a house that was flooded in Harvey (Aug. 2017) for the first time (to my knowledge as I bought it from a wholesaler with no disclosure) .The house is one story with three bedrooms (one of them is a master suite) with a very reasonable living space and backyard.I rehabbed the house and it looks great now, ....nobody would buy it :0(The house is near the medical center in Houston (in a subdivision called parkwest near Westbury) If I rent it it will create a -ve cash flow of about $300I'm thinking to turn it into Senior independent living but it seems to be very complicated strategy with the best yield.Any experience in doing this in Houston would e appreciated?

Would your response/action be the same if they weren’t in wheelchairs or weren’t seniors, but we’re average tenants who were out of work and ran out of money?

Not government bureaucracy it is the fact that your citizens are extreamly liticious.

However, even if this multifamily exemption applies to you, your rental advertising must still comply with the Act.Other exemptions include the rental of a single room in a home, qualified senior housing, and housing operated by religious or private organizations, if certain requirements are met. 

Adult only or seniors communities often will be of somewhat higher quality and much easier to manage.

I am looking into first creating a non-profit for purposes of acquiring, rehabbing distressed housing; then renting out rooms to seniors/55+

Just trying to be a good citizen and a kind person...Also they have been somewhat high impact renters and have even driven on the lawn and over my new sprinkler heads. 

Are you buying in an area best suited for seniors? 

After further research on the subject I see where the redemption amount is calculated by Jefferson county on the Citizens Portal.