Melt the butter in a frying pan and add apples, brown sugar, cinnamon, and water. Cook on medium heat for about 8 minutes or until apples are slightly softened. In a separate bowl, combine 1 tablespoon corn starch and 1 tablespoon water to create a slurry.
Push the apples over to one side of the pan, turn the heat up to medium high and pour some of the corn starch mixtures into the boiling liquid until it thickens. Depending on how much liquid was in your apples, you may not need all of the slurry.
Spread apple mixture into a 9×13 pan. Top with 1/2 of the bread slices and spoon 1/2 of the egg mixture over the bread. Top with a second layer of bread slices and remaining egg mixture. Cover with foil and refrigerate overnight.
IN THE MORNING
Remove the pan from the refrigerator while preheating the oven to 350 degrees.
Bake covered for 35 minutes. Remove foil and bake an additional 10-15 minutes or until bread is firm. Remove from the oven and let cool 10 minutes. Invert into a pan.