*Would also consider out of state so long as it is closer to the west but, would prefer to buy local first.Thank you.

Your local REI club is a great resource to start.

Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting to such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property to standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.I know tons of investors who are renting out their properties using this strategy here in Fort Worth. 

Best to talk to someone local rather than a national forum.

I noticed when looking at the local tax assessor that my name (purchaser) was listed as 50% while someone else was listed as the other 50%.

@Dionne Ladson The proof of the pudding is in the eating.True private money (e.g. a high-net worth at your local REIA) is going to be more flexible, but make you vet them before diving into a borrowing relationship.

=> I would get a local lawyer spun up on the situation when the investor is ready to go.

We worked with a realtor that sent out auto-mailers from our local MLS.

As you get ready to start investing I'd encourage you to connect with a local agent in the area that you are looking to invest and they can connect you with other professionals you'll need like a good lender, insurance person, property manager, etc...

@Cleiton LevinskiThe best way to find mentors in your area is to attend local meetups.