Tax & Legal ConsiderationsDepreciation Recapture & Capital Gains: Since both properties have been held 20+ years, any cash-out won’t trigger capital gains, but if you sell, consider tax implications.LLC / Holding Structure: If you plan to scale, consider holding new properties under an LLC for liability protection.5.

Trigger leads - This should be going away soon per federal legislation, but here is what you can do to mitigage it in the meantime:- Do Not Call Registry- OptOutPrescreen.com

My recommendation- Find someone local that is already running a successful care home & become an educational sponge before you pull the trigger on your own home.   

Have had those triggered several times over past recent, and I am a-ok with that. 

They can take the asset, but they cannot pursue your personal assets—unless you trigger a “bad boy carve-out” (fraud, willful misconduct, misrepresenting financials, etc.).

Get the answer to what the properties produce income wise then you'll have your answer on pulling the trigger.  

LLCs can trigger extra costs ($800 per year in California for example), extra hassles (such as a need for a partnership tax return between two spouses in some states), extra paperwork and so on.Here is what one attorney says about LLCs:https://www.biggerpockets.com/forums/109/topics/1212815-i-ne... 

Sometimes yes, sometimes no.But even if they are included (akin cabinetry), they can still trigger depreciation recapture at the time of exchange, as explained above.

You could also consider a cash-out refinance instead of selling; that way, you tap into the property’s value without triggering capital gains taxes right now.

I'm sorry to be harsh, Colin, but for the risk you are taking, your objective should be to earn an above-average return with a substantial payback.