If so, it may be difficult to start a new assisted living facility.

Excited to get started with real estate investing and network with likeminded people. 

@Kalli WilkensWelcome, BP is a great place to get started!

Thank you in advanceI started my career in RE, by working for an investor that was looking for a specific type of property.

Started out as a total newbie a few years ago.

Approx 5 years ago, I started managing a Section 8 property that the tenant had sublet to someone they didn't even know for more rent then the Housing Authority was paying. 

I believe they start in the high 9's currently. you wont get to your $20k out of pocket target on this scenario specifically, but the point is, there are some lenders which will work with out of the box deal structure (for a premium).

Only way to find out is to start calling and reaching out

If so, I'd find out and start by reporting them and work to get the listing shut down on all the websites.

To start, I'd do a Discounted cash flow analysis and cap it like a regular income producing rental....do you know the rent the tenants were paying in the two sales you showed?