I personally think it's easier to get a general contractor's license (especially here in Chicago - it's almost sad how easy it is), but that just means there are a lot of bad contractors.Almost all states require architects to take a state licensing exam and need to have a bachelors degree in similar field to even take the test.I found for me, if I can just find people who are really good at what they do (and enjoy it) I can let them do that and I can just focus on finding deals and building the team.  

more than likely you will need to speak to the land groups of home builders or the land and development groups of multifamily buying groups and most are going to be publicly traded. make sure you have enough housing units. if you provide more info I can help out. there's a million different niches in development and more than likely less than 10 buyers for what you are talking about in any niche. we just reached out to Greystar for apartment development site we are putting together that is a vertical development. we called their office for the midwest and messaged every single person on their team on linkedin. put the effort in and you'll get results. 

As long as it will pass an appraisal and not be "Subject to" major issues you can get a renovation or personal loan for work.Unless you are cash fluid and can add some cash back into the property and then pull back out on the ARV refinance.

We fully own the property, but an equity loan minimum is currently more than we qualify for, can't find a personal loan, all due to credit scores.

Hey @Raymond Zhuang - the question you've asked can vary from investor to investor since your priorities will be different than the next person, and so on. 

Make sure you can care for your family today and tomorrow before you start thinking about your personal comfort in 40 years.

Does anyone have a contract and necessary forms they are willing to share or can you tell me where I to get them?

Keri Middaugh appears to have given a most interesting comment on the subject of personal care homes about 8 months ago.  

Any recommendations on where I should have assigning contracts drawn up?

The people who live there typically sign strict lifestyle contracts that state they have to leave immediately if they don't follow it.