Do not cut any corners to make a deal look better on paper but not in reality.Track all of your income and expenses that you are responsible for and review them regularly (in report form) with people that can help you possibly reduce your expenses and increase your income.  

Then create a section that is an actual "assisted living" facility within the project.Gene

I was able to drive around and  found a few concentrated areas of MFR near a college section.

I use rentalutions for my properties.I have 7 properties, 25 apts and about 50 tenants.There are a lot of roommates.I definitely recommend it as it really makes rent collections easy.Their responses are generally good and helpful, mostly via email rather than phone calls.They have a reports section which comes in useful for lease renewal reports, late payment reports, etc.I do use it to syndicate rental listings, but they don't seem to post onto Craigslist, which is where I get a lot of responses.They do have Zillow, Trulia, streeteasy, etc.

That 1-3 years that you are planning to spend in a 2 BR apartment could be spent in half of a Duplex that you own with 95% FHA financing, with the other tenant paying most of the note payment.That three years of equity, reinvested using Section 1031 for the next 30 years, could easily turn into half a million dollars.And your monthly expenses would be even lower.You would also be building a solid credit history.Just a thought.Good Luck on your real estate investing.  

Do not cut any corners to make a project look better on paper but not for real.Someone like you, needs to find local and experienced Team members that you beleive will help you reach your goals.  

One section gave some possible avenues of denial:9.

The living section is vacant and the business level has a tenant whose lease expires in September 2017, but also has a tenant option to renew for another year.

A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

@Ben McMahon  Ben - We have an HOA section of business, and I will tell you it's very slow and tough to get into as a small player.