5 bed house - Strategics & student housing & assisted living ALF

[Jay Dimacali]

Hello all,

I've got a potential deal in the Northridge California (CA) area (San Fernando Valley) in Los Angeles.  I'm trying to run some numbers to see if I can get a deal that's worthwhile.  It's a 5 bed 3 bath home that will need some rehab.  It's a 2 story home and in a good residential area of LA.  My initial thoughts are to convert it into student housing where I've heard some people will rent rooms out to international and domestic students and collect a good sum.  They provide housing, food, transportation, etc.  This house would seem to lend itself to this kind of deal because of the 2 story configuration.  

Another thought was seeing about making the house into a ALF facility but the 2 stories and only 3 bathrooms seem like a hindrance to me.  

Anyone have experience with student housing and working with agencies in the LA area?  Any recommendations about who to talk to in the area?  Thanks in advance.

Jay