I listened to a podcast a while back with an investor who exclusively rented to "group homes" (homes which were rented by an organization that provided room and board to adults).  

Make sure the daughter who is living there, but not on the lease, knows (not sure if this is the one you talked to or if she's an adult-guessing so). 

My husband, adult son, and I live here so we want to be cautious. 

no one has mentioned it but Real estate agents can be targets of criminals and sexual assault.

It’s like babysitting adults

Also, note, that if you have another adult in your household (spouse) you can each have up to 10 personal conventional notes - this will give you the ability to acquire 20 units at a time and move them to portfolio commercial loans into your LLC.This should resolve all your questions.

Really though, there are loads of "Active Adult" 55+ communities scattered throughout the area, both mobile home park and the SFH variety.Aside from the Phoenix area, it might not hurt to look into the Tucson market as well, depending on what your goals are.

Also, it is the middle of the school year, so families would be moving their kids to a new school mid year or college young adults are concentrating on finals for the semester and dont have time to make a move.

@George Yu - Look for the non-profits that own & manage real estate and offer social services to people with mental illness, homelessness, youth & adult educational services, HIV/Aids, transitional housing, etc... 

Adult dogs that are well taken care of do not do damage.Well cared for cats might do damage, they might not.