You ca also see what percentage landlords are buying according to the rent rule, For example in my market i have seen buyers buy 1.2-2% of rent in Louisville, Kentucky rather the just the 1% rule, Even though some do still buy at 1%.

Given that a large percentage of travelers are young and having a good time goes hand in hand... 

The conversion may already be allowed under current zoning as a senior care facility can be multifamily depending on how it's used and the percentage of the community that is used for assisted vs independent living. 

Percentage of return on their money, length etc. do you use for flips or brrr’s?

Is it a percentage or can it be anything?

@Gabriel HarperI think by having the traditional percentage rental income is having “skin in the game”.

@Troy Sorrento  You will need to get used to tons of people acting very interested during initial conversation and showing, only to have low percentage of people actually following thru with applications. 

However, following three consecutive monthly double-digit percentage gains in a row, housing starts are now just shy of a full V-shaped recovery (sitting only 4.5% below February levels).

What would be a fair percentage of the deal?

Percentages lie...and they don't tell the true story.