So you have the property and now you need to make the property pass inspections for the assisted living permit/license that you need in order to operate the business.

I have been an operations Supervisor for over 20 years and I'm tired of going nowhere.  

Have a 3% earnest money refundable if you cannot get a mortgage after 12 months.Before signing I would do a property inspection report and be satisfied with the current conditionLastly, to prevent the seller from not paying the mortgage, I would use some kind of payment collection company like www.notecollection.comIf you do not have the 3% for the lease purchase arrangement, I would try to get a lease and a ROFR, A right of first refusal, so the landlord will not sell the property from underneath you.

Do you operate in this area? 

I don't see how a turnkey operation is always looking out for the best interest of their client.

It's the same stuff that I read and was out there 10 years ago.I have operated a successful wholesaling business for over 10 years.  

@Matt SpeerA nice strategy...203ks are powerful if you know how they operate.

Get an attorney to draft an operating agreement for you and make sure that you follow one of the SEC safe harbor provisions.  

This method works for me because my rents cover the cost of paying the loan and operating expenses, plus setting aside 10% of the rents for capital improvements and 5% for repairs.  

Generally it is used for individual agents who want to build a team underneath a brokerage, however the concepts can easily be applied directly to your own firm.