How old and mentally stable? 

Hope someone can help give me some clarity on this!

In our experience, rooming houses tend to serve very specific demographics, such as:students - we operate a rooming house which serves international students attending the local universities;{a specific} work force:  It is not uncommon to find rooming/boarding houses in close proximity to major employers (factories, hospitals, fish plants; etc);seniors:  A rooming/boarding house which serves seniors;the displaced & transient:  Rooming houses which serve those on the fringes of society (mental illness, transient, addictions).The population you serve will very much dictate the type of operation you will run and each comes with its own management challenges and rewards.My third question is, "Is this rooming house compliant with local zoning and bylaws?"  

Thank you for the clarification, you have definitely given me some clarity. 506 C seems like a very strong option.

Hope this helps - feel free to PM me if you have more questions or need clarity on what I said above.

Deliberately have a few challenges in your screening process - it will weed out "entitlement mentality" problems4) Allow payment plans, but create system to track when payments due, so they don't keep falling further behind You will need to call them on due dates or they will fall further behind Be prepared to give a strong NO when asked if you will change rent due dates to "make it easier" for tenants to pay rent based upon their SSI or paycheck dates.

Deliberately have a few challenges in your screening process - it will weed out "entitlement mentality" problems4) Allow payment plans, but create system to track when payments due, so they don't keep falling further behind You will need to call them on due dates or they will fall further behind Be prepared to give a strong NO when asked if you will change rent due dates to "make it easier" for tenants to pay rent based upon their SSI or paycheck dates.

No clarity on closing yet. 

We are still trying to figure out where our niche is, but we know we'll gain clarity as we simply begin to take action.

Provide value and have a mentality of wanting to help others and people will naturally flock to you and want to help you succeed.