As of right now, I am a junior and have about a year and a half before graduating.

Junior Cene How much equity is in the ones your acquiring ?

If you win the mortgage's senior claim to the deed, I assume you can petition for the junior line of credit to get wiped out. 

All tenants were juniors or above and were serious students looking for a quiet place.

Waiting to record a lien (one that would have been junior and likely extinguished) until after the sale but before a bona fide purchaser records its deed would not be rewarded with a first position lien.

This gives the lender a lot of protection against waste, junior encumbrances, securing and maintaining the property if borrower defaults, etc.

@Jeffrey Radcliffe, @Junior Salters - Thanks, guys.Junior - I had been reading on the @Michael Blank analyzer - do you believe it's worth the $$$?

My name is Touré Smith, I am a junior at Western Illinois University in Macomb, IL. majoring in Accountancy.

I majored in Finance and Real Estate and worked for a title company doing real estate closings in my junior and senior year. 

(e) This section shall not apply to the following types of residential real properties or residential circumstances:((5) Single-family owner-occupied residences, including a residence in which the owner-occupant rents or leases no more than two units or bedrooms, including, but not limited to, an accessory dwelling unit or a junior accessory dwelling unit.