A year in I completed a refi on 470k of the original loan.....between high balances and lots of inquires the best rate I could get was 8.75

Interest rates range from 4.12% to 6.5%.

I figure it could be a decent time to buy soon while it seems to be somewhat of a buyers market given high rates as I could be cash buyer.

I think furnishing the unit you are in (getting it all nice and tidy as well) in the mean time and then transferring over to the vacant unit once it is up is a great idea. 

I will assume the same rate of return for reinvested money. 

So, with that your buyer will likely have to go with a different route than a conventional loan which will likely require a higher down payment and have a higher interest rate. 

Wait for the intrest rates to drop a little?

Contact the notary/title company/lender on the transfer deeds for copies of the Trust.

I've seen it done two ways:Flat rate lease - The operator signs a lease for a flat rate and runs the business collecting their rent and care fees from the residents. 

Don't worry about the rush to buy "before prices/interest rates/XXX" rise" there are always deals out there you may just need to be patient and wait until the time and right property comes along.