I agree that big, old, ramshackled wood houses are quaint, but they're also expensive to maintain, sometimes impractical, and can be fire traps.
My mom was in a nursing home - a very nice place with an entry foyer, large dining room, offices. It was built in a horseshoe shape with a nice courtyard, and had lots of semi-private rooms. I looked around one day and thought, "Damn. This would make a pretty good fraternity house!"
And if the chapter ever closes, you could sell it as a nursing home.