Buying Property for Masters Year CWRU

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I am currently a soon to be senior at CWRU planning on staying for a fifth year for my masters. I am interested in buying a multi family near campus (within a mile or two) for my fifth year. I realize that I can do the FHA loan. My scenario is that my current lease runs out July 31st, 2020. I am wondering if I find the right property when should I start closing and making real progress on it. Is there anyway to buy the property on a set date through a contract or something?

Let me know