I am also a huge fan of real estate and for the past 50 years there's been a way to combine both.By leveraging a Self-Directed IRA, real estate investors enjoy both the traditional advantages of property ownership and the additional tax benefits of retirement accounts, creating a powerful wealth-building strategy.

Another thing to think about is what kind of turnover you have, what condition the building is in. 

Each grouping had a common room (perhaps it was shared by multiple groupings ... this was a detail I missed) with a nurses/aid workers office.Central to the two sides of the complex were common facilities such as a dining hall, gym {perhaps a pool ... another detail I missed}, theatre &  games room.With one of the fastest growing groups in our society being single people, we are examining a related idea of a  complex / building providing a modest-sized 1-bdroom "apartment" with more semi-private and common amenities.When I read the title to your thread, I thought it was a project proposing to mix students and seniors into a single complex ... and came in thinking, this ought to be interesting :-) 

They are literally building their own comps.

You will build up cash on a monthly basis that could be used to invest other places either rental properties or the stock market. 

I am currently looking to build a spec home and use my equity to help finance the build.

I think another factor here in determining whether its a good investment is your age and your goals. 

I'd build a network of agents and owners in your select markets that work primarily with investment properties.

You have so much time to figure out what you want to do and build a network throughout that time.

Laundromats that are next to (same building) or attachedwith an access door to a coffee shop, cafe, etc are the best ones to get.