Invest In 4-Plex to help pay for college? BRRRRR

[Randall Brooks]

Hello Wonderful Community! 

Okay so... I am 22 and have decided I want to go back to college full time for Electrical Engineering.. My goal is to be as less stressed as possible and not have to pay a lot on rent ect. I have always been interested in income properties and I need some advice. I found C+ 4 plex listed for $123K in Alabama, a short drive from the college I want to attend. I have steady income now but my goal is to prove to a lender that I have steady income now and purchase this property and leave me job to go back to college while using this property to pay for my everyday expenses. The property is a standard apartment.. But I want to make it into something students would love, study area ect. each unit is a 2 BR 2 Bath and the average price for this type of unit is around $499.  I would be living on the property and renting other units out ($1500)  Do you think this is a good strategy? I have been planning on investing in an income property soon but now i want to go to college. Wait or Jump in? 

[Joseph Catalano]

I wish I would have done that in college.  I rented an apartment from a guy, who is now a good friend, while I attended law school. He bought the house his first year in law school, I paid his mortgage for three years by renting the upstairs apartment.  Great Idea, in fact I just convince my youngest brother to house hack.  Go for it!!