We found an opportunity to purchase a huge SFR with two kitchens located next to a commercial zone which was previously used as a sober living facility.

Hi everyone, Hoping to connect with someone who has experience renting to or operating residential care facilities. 

They are tearing it down to build a logistics facility.

I'm closing on a 74k sq ft (5 warehouses) Class B Industrial facility this week. 

Was wondering if I could turn one of my spaces into an assisted living multi-tenant facility as it’s in a great area for it and can be changed with a reasonable rehab.

I know I will need one for the actual storage facility. - but when it comes to purchasing the land, I am not sure what the best route would be.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Fortunately, the tenant paid for all of it.They lived in a building with a nice laundry facility (six washers and dryers) that were priced below what the laundromats charge.

Im bringing 400k myself the purchase price is 10 million its an assisted living facility  do you have experience running an assisted living facility?

I'm presently a facilities engineer by trade, who does some construction and maintenance for landlords on the side, hoping to get back into the private real estate game.