Materials have increased more than 20% in the last 5-8 years.

The marketing functions is where the very host cost comes in.

Over estimate the costs and not need them?

I can promise you that my first deal was TERRIBLE, but I lived at a reduced monthly cost to living than renting/buying a single family and that is what mattered. 

I would also recommend increasing your liability coverage to at least $2M.

I believe this is what they call a pier and beam foundation which I have no experience with so I have no idea what it would cost to fix. 

Quote from @Hanna Brown: @Jay Hinrichs If the bidder at the auction pays cash for keys to get the homeowner out, does the person redeeming from the owner position (exercising rights of redemption w/in 180 days) have to reimburse them for those costs they paid to get the homeowner out? 

You’ll put 5% down but get 2% back on sale (which might pay for your closing costs) and then do a rent by the room to cover your expenses and downpayment for next year) Not sure which university you are at but both Henrietta and South Wedge are solid places to start (serving RIT and UR respectively) Good luck, I personally think Rochester is a great area to start due to constrained supply with a growing population

I prefer markets that experience mild winters to eliminate the added costs brutal winters can bring. 

Both tenants just moved out.I just got a bid to correct the foundation the right way by the most reputable company I could find (full underpinning, 60+ piers) ~$65k, plus costs of repairing drywall, paint, vacancy, and new flooring.