I have no family except a nephew I seldom see. Have mild Alzheimer symptoms but still live independently. Trying to plan now for probable eventual care in a facility of some sort. Part, but not all, of my income comes from a rental property.
The hard part is over.
I'm matching you with one of our specialists who will be calling you in the next few minutes.
I will say, that if you do not reside at this rental property, that it will probably be counted as income and you will need to sell it for your care. But a lawyer will be better in explaining how this all works.
I have a professional as my POA that is a certified elder law attorney, that guarantees that my written wishes will be followed and everything will be done according to state law so that I am protected. I think that you should also have a list of facilities that you would be okay to live in, that way you know where you are going, may not remember when the time comes, but you know now.
You can do Google searches and get the information that is being offered about what you can and can't do, that's all she does, so do it for yourself so you have more information.
P.S. Nephew has POA, but doesn't accept that my mental status is anything but fine. His answer is always, "Don't worry". He knows nothing about Medicare or Medicaid.
You should see an Elder Law Attorney who could give you the best answers about the proposed sale of rental property and investment for your future care. Many on Forum are quite smart on any given subject, but laws vary State to State. You are so wise in planning ahead. My bro, just prior to his accident which gave his early diagnosis was just in the process of hiring a Fiduciary to manage things for him. And Elder Law Attorneys often have great advice for Seniors without family. Laws vary state to state. Don't ask advice of friends and forums. Do go to someone in the know, explain your situation, and pay for a few hours of solid advice and forms all done.