There are opportunities for various strategies here- short-term rentals, medium-term rentals, long term rentals, BRRRR, flips, etc. 

I am acquiring an assisted living home (RE+business).RE appraised for $1,320,000Business for $80k.I have the RE portion already financed through banks but am needing $80k for the business to get the deal done.I’m looking for $80k short term loan for at least 6 months so that I have enough time to get a more stabilized business loan.

I found my city, found what I thought was a good deal only to find out insurance rates were 2X more than in my current hometown for a long term rental.

What’s a realistic IRR to expect on a long term rental in the current market?

As long as you like your job and/or industry and could do it for the next 15 years, what you are doing would work perfect for your plan.As you gain experience, maybe you can move into more units per purchase or start to BRRRR.

, The builder told me that as long as my HELOC is zero balance on closing that will be okay, but I did not ask them if it will drastically lower my credit in case they will pull again for the third time with the builder. 

We bought ourselves a furnished house with a giant pool, and also opened up a Short Term Rental.  

Renting short term or long term will have some bearing on it but this isn't too far fetched to find a lender for this sort of thing.A small, local lender will be your HIGHEST probability of success when trying to find investor friendly lenders on investment properties.

Things you want to consider would be what your long-term plans are with this property.

so - what are the ages of those items, how much will they cost to replace, and how long will they last?