Quote from @Mitch Tamap: Hi Evan, I’ve worked with investors and operators in the sober living space and would be happy to help you think through underwriting a deal.

There are some operators that do it, just have to find the right one. 

When it was ready, I leased it to an established recovery housing operator on a 15-year net lease with a few 5-year extensions built in.The operator took over management, kept the home full, and paid steady rent every month.

The only downside is making sure transfers back to your operating account are quick enough to cover mortgage drafts.Separate buckets: I keep one account just for operating (mortgage, repairs, utilities) and another for reserves.

Sounds like you might dive into the realm of commercial or business operations.

Great job on the due diligence or Operational process you have going.  

My goal is to partner with experienced operators — perhaps someone developing a property or running a local business — who could use ongoing legal support in exchange for a small equity stake. 

Rent bumps annually 3%.The Tennant is a mom and pop coffee shop that has only been open for 3 months.The shop has a one successful location on the west coast but this is their first location in the area.Two neighboring units just sold at 500k/sq foot, but both to owner operators. 

I own one of the commercial properties where I operate one of my karate schools.   

It stretched me beyond just writing a check — I had to think about how financing, cash flow, and title work across multiple properties interact.Challenges & Lessons Learned (as the funding partner):Title coordination: Watching the operators juggle multiple closings at once gave me an appreciation for how complex portfolios can be compared to single deals.Cash flow management: I saw firsthand how critical it is to plan rehab draws carefully when several properties are in motion at the same time.Exit flexibility: From the lender’s seat, I realized how valuable it is when operators have multiple exit strategies (hold, refinance, sell individually).