At one time I thought about doing the same thing. I think regulations vary from state to state but I remember finding the info on the net just dont remember where I found it. Try to do a google search on regulations for personal care homes or assisted living facilities.
I do know when I worked in home health I had several people on my caseload that were residents in a personal care home and that the owner/manager of that home was not a R.N. in fact I do not think she had any medical background. Im not sure the difference between a personal care home and a assisted living facility but I know the personal care homes I visited the people had to be able to care for themselves basically as far as ambulation, eating, toileting..they just wasnt able to live by themselves so that is why they lived in a personal care home.....more for supervision so someone was watching them, preparing their meals and making sure they took their meds.