my understanding is the senior lenders can and will come behind the purchaser to recover their debt.first being the primary lender. and all those before the hoa.

Be a good citizen and report your evidence, if / when you have any.Be a good landlord / property manager and enforce the terms of the lease. 

I, however, am a senior so I my approach is different.

I work as a Senior Living Manager running the operations of an Assisted Living and Memory Care facility.

@Phil Morgan,I'm not sure about Elyria's local code, my thought in general is that all is needed is to advertise it as Senior Housing, maybe someone else will chime in with more info from that area, James Wise may be able to shed some light on it

But the property manager I hired (with great recommendations from a senior investor) is questioning if we can raise the rent until after April 2019. 

I plan to start building credit soon by opening two new credit accounts with secured cards - that seems to be the safest way to start.I'd like my first investment property to be a rental near the Notre Dame campus, and I'm aiming to purchase it over the summer before my senior year, giving me time to make small improvements to the property and secure tenants before the beginning of the academic year.

It was honestly sad that a house could get as bad as it was, especially since it was still fully furnished with someone's possessions (senior that moved into assisted living I believe).

The other side of the coin is that the fall of the Turkish lira is the reflection of deep economic and political or not, which could have an influence of the value of your investment.I invest in countries where it's profitable but I also want to make sure that 1) I'm treated equally as the citizens of the country, 2) the risk of my property being confiscated or nationalized is limited and 3) I can repatriate home my rental income and the proceeds of the sale should I decide to sell.I would consider investing there if I'm satisfied that I can get all of that but I believe there are better places to invest right now.

If  your property was not free and clear, any mortgage balances on that property would need to get paid off in the process so that your lender would be in first position on the property (no other senior loans).So if you borrowed the $100,000 to buy the property, and borrowed the $50,000 to fix it up, you would net zero dollars by BRRRRing the property… and you wound actually go backwards because of closing costs.