Real estate is a vast industry and requires a clear sense of direction to succeed. 

Some questions that I have include:What are the specific regulatory requirements for residential assisted living homes in NJ/NY, and how do they impact operations?

For example, a light documentation program would require less debt-to-coverage ratio, but the rates would be higher (7-10 right now).

I have some ideas (visa requirements, acreage, zoning (what it allows for), a section for expenses/upkeep, the amount that everything put together breaks down to depending on the number of people buying into it) but hoping for more specifics on the actual property analysis/numbers side of it since I don’t really have much experience and would need to be able to explain it to someone to help me create the sheet. 

LeaseGuard and others have had a higher unit count requirement so we could not access it as a smaller self managed apartment. 

HOA are increasing tremendously due to the amount of repairs/up to date requirements for the older condos.

I would talk to some other lending options - a 3 year prepay is far from required or forced on DSCR Loans - there are some DSCR Lenders that will have lower prepayment or even no prepayment penalty options as well

Asbestos, given its health risks, requires professional assessment and potential removal or encapsulation, with costs ranging from $1,500 to over $30,000, based on the extent and abatement method. 

We negotiated a 75% bank finance, 25% seller finance deal that required no money down at closing and no work needed, given it was turnkey.

Check with your local municipality for their Boarding House requirements, as that is what you are creating.