I closed on a 5 unit in a college town, now what?

[Chester Stoney]

Hey all,

I closed on my first rental property a few days ago, a 5 unit (1br1bath each) in a state college town. Now I'm looking for some pointers as I move  forward to get it rented to some students and how to maximize my return.

[Will Gaston]

@Chester Stoney this thread may be helpful: Nearing 1,000 College Student Tenants: Here's what I've Learned.

The best thing you could do is an experienced student LL in your market and befriend him/her and lean on them for guidance. The local knowledge and specialization needed rarely gets mentioned when investors are told about all of the alleged great returns.