University Rental properties....

[Thomas Jackson]

Hello All, I have had great success buying and flipping SFH in the Cleveland, OH market. I recently started to think more long term and wanted to start purchasing some multi family and SFH rental properties to secure my retirement. My first purchase was a SFH near a local university. The house is a complete dumpster fire, but my brothers and I can build a house from the ground up, so not a big deal. It's a 5 bedroom house, where rooms rent for $375-500 per bedroom. ($1,875-2,500/ month) for this particular house. I believe we will be on the higher end of rents as this will indeed be the nicest house on the street. The house directly next door is a 6 bedroom that rents for $450/room and it's been rented longer than the owner can remember..... I think this is a slam dunk and our cash flow will be huge.

Just wanted to post and see if anyone had any experience with university rental properties...... pros vs cons, things to watch out for? Good the bad and ugly? Any experiences that we could benefit from!!!

Thanks!