First Deal by a College

[Samuel Whelan]

Hi all,

I've recently switched careers and moved back to CT, so I'm on the hunt for my first property. My goal is to purchase a MFH with a good bed to bath ratio and instead of renting by the unit, rent by the room. The properties I'm looking at are near a decent sized college so there are plenty of students. I plan on being the landlord myself for the first year to gain experience before switching the property over to a manager. I know college students can be bad renters if I'm not careful, so what precautions/stipulations are a necessity for this type of renting? I'm very excited to get started on this project, but want to make sure I don't dive in over my head and get burned right out the door. Any advice or help would be greatly appreciated!

-Sam