This one time, at band camp....I once bought a mobile home in a senior park while the economy was taking a dive.

--------------------------What I believe is going on is that the 'owner' is a senior-partner /  junior-partner investment fund.  

But if you commit this senior year to working for me then when you graduate you will be ready!

Although the banks loan LTV as you stated is lower as the senior note many lenders will not allow a seller second because they want to control in a default event.

Corey in most areas the 2 bed wins hands down.The 1 beds tend to be harder to finance, have more turnover, less rental increases, to sell, and on and on.1 beds do make sense for student housing and some senior communities etc.

I've never thought about how foreclosing on a 2nd and getting the property at trustee's sale keeps the senior loan in the borrower's name... just like any other sub2.  

While I'm 20yrs your senior, I'm not certain I qualify for the more mature label - definitely not if you were to ask my wife.In reading your post above, it would appear the significant short-term appreciation your property has experienced is a result of a frothy real estate market, rather than having acquired the property at a steep discount and/or forcing appreciation through improvement of the property. 

BTW, the average age for seniors to enter assisted living is 82.  

If you're a US citizen still claiming income on us tax returns and both you and your brother are on the loan.  

I am now a senior in college and nearing the end.Along the way I had the got the opportunity to work closely with the owner of a ninja warrior gym (based off of the show American Ninja Warrior).