We have had the same situation both at an existing house and we even built a brand new house for a group home for mentally challenged adults. 

This not only preserves the value of your asset but can also allow you to command higher rents in the long run.It Frees Up Your Mental Capital: Your time and energy are your most valuable assets.

Don't get anxious and try to do mental gymnastics to create a good deal in your mind.

But with that said.Do an LLC with the Operating agreement spelling out everything.Death, divorce, mental capacity, took to long, won’t sell the property, who decides to sell, can’t refi outside the LLC, bankruptcy, cost overruns, your labor costs, 1st lien, 2nd lien positions, etc etc how can a deal get screwed up???

As all fees and services are of late a bit more scrutinized in the Real Estate Industry, I feel it's more important than ever for the Property Management Industry to finds way to shift mentality. 

However, these resources often oversimplify or completely ignore the crucial steps that you've identified:Accurately calculating After Repair Value (ARV) based on true comparables.Creating a detailed and realistic rehab estimate beyond a simple per-square-foot guess.Factoring in all the other costs like closing costs, holding costs, and profit spreads.This oversimplification leads to a "throw it at the wall and see what sticks" mentality.

This mentality would be more understandable from someone in their late 30s to 50s tired of the corporate grind.  

I have a mental return rate I use to evaluate properties. 

Honestly, I live for this.When someone has the mentality of there beingno deals in any market, it just means less competitionfor us that have a different mindset.And really, understanding of what happens in real estate.Firstly, "good deal" is SO freaking vague.What's a good deal?

(Likely more niche, but I'm also open to partnering with reputable CCBHCs or other mental health agencies to rent a unit specifically with barriers to housing).2.