I would greatly appreciate any insights, personal experiences, or recommendations you could share.

But from personal experience, most institutional lenders and hard money lenders require wet signed documents (RON is not accepted).

I want to rent it to the licensed personal care home or assisted living. 

That being said, like most things with being a landlord, if you are a decent person treat your tenants like people, remain communicative and respectful, make necessary repairs, it is highly unlikely you will ever get sued or anyone will ever question if you did everything by the book.  

Since it needed rehab (30 to 40k) I took a personal loan to fund the rehab.

I was there cleaning the person opened the door and I was standing right there.

Personally I’ve found that most units I’ve tried to rent over periods longer than this the tenants have just moved in to the next great thing.

I personally have two friends in this situation.

There are some excellent posters on BP but occasionally some go beyond what I think is appropriate for lay persons.

Cities or HOAs have an employee or pay an outside person to look on Airbnb and Vrbo and see if they can rent your place for a shorter time.