This question is for those who operate or have an understanding of residential assisted living facility, residential care homes, RALF, RCH, etc., as a business specifically, not the underlying real estate. 1. 

I have to disagree with you on this one while I operate currently under my personal name and have an umbrella policy, the article you linked explained the benefits of not doing a LLC from the perspective of being a owner occupant.

See what real investors have to say.Visit/Tour: Even just asking about coming to see the operation can give you a ton of info on how they actually handle customer service.

I keep mine for seven years - with notes on them, as to why I denied the tenancy.

Mine are 400 yards.

So if your house will make you 1k per month or 12k per year, the Net Operating Income is 6k per year. take the NOI and subtract your principal and interest payment from that.

I've come across a property I want but it is in foreclosure and in another city from mine.

All of mine cash flow after all expenses.

From this you would deduct your allowable operating costs (legal, administrative, servicing, etc) and the remainder would be your net income.

So here is a little about me; I am a 27 years old and working a great job in Savannah, GA but I've always wanted to own and operate my own successful business.