I know their are single family homes can be converted to small adult care homes for adults needs minimal assistance and food preparation.

Sometimes you leave a little money behind with BRRRR and you have to be prepared for that. 

I've been reading and preparing for years and finally want to just jump in and swim.

You would probably gain much more by paying someone else to do it and watching them go through the process, preparing yourself for your next bathroom remodel, and the next one after that.

2- SHould i do new constructions, using my line of credit to buy and prepared the land and find a private lender to finance the vertical construction?

@Brian SmithThat list of questions has been around a while, so in addition to he answers you can get some insight into how well prepared the mgr is.

-Most importantly negotiate and be fully prepared to walk away from the deal giving up earnest money!!

My suggestion before meeting with a realtor is to prepare a Proof of Funds letter;  i.e.

Stress that this is an informal meeting, and you do not want to take up too much of their time.Come prepared to the meeting, keep the tone light, and look for ways to make personal connections as well as business opportunities.

A lot of very intelligent investors will tell you to do so and I wholeheartedly would not blame you for taking their word over mine, however, the way I see it is let's say you buy a blue chip stock and it goes along its projected path...I don't see that as a good preparation to suddenly buying stock in riskier companies.