I'm worried about home affordability for them in the future since prices are very high right now - if they choose not to rent out the properties they could live in them (probably not the apartment building) however they want to divided the estate out, although the Indiana SFH is not an equitable property compared to the California ones in terms of property value. 

They share a lot of similarities in terms of price point, both for your purchase as well as your rents, they are attractive to renters and first time home buyers because of their affordability relative to the rest of the county.  

I think in terms of listings as being on the MLS.

Are there any insights into what students might be looking for in terms of housing?

If I'm in your shoes, I would consider chatting with a couple of lenders to start off with mainly because your lack of income history would restrict you in terms of the financing you'd qualify for. 

Never seem to understand the multifamily vs sfh discussion. 100 door multifamily would be the same as having 100 sfh in terms of renters leaving.

It seems PMs don't make a ton of money for all that they do and their incentives don't always line up with investor's incentives (i.e. getting paid more for turnover in terms of tenants when I'd prefer no turnover or vacancy).Sorry for the long intro, but having said that, I have a few questions...   

Asked her what her comfort level was in terms of having cash on hand.  

I see so much opportunity out now in terms of inexpensive lots, I was just out to see one in Northern IL that looks promising in a B+ area.

I feel that I am analyzing deals well in terms of price, downpayment, rents, cashflow, etc...