I can tell you first hand that the demand for student housing is at an all-time high. 

With its booming housing market, the Phoenix real estate scene has emerged as a hot zone for fix-and-flip investors.

Why don't you share a bit more about where you are in the process, what you know about investing in real estate, what your goals are - short and long-term, and tell us a bit more about why you are asking your question here on BP?

Do you want time freedom? 

I almost gave up on real estate investing before I even started.When I first considered investing in real estate, I was drowning in paralysis of analysis.

If we assume all cash and a 50% expense ratio (this improve with time due to the near fixed property tax) would provide 4.8% return from cash flow not including closing costs).  0.5 (rent ratio) * 0.5 (50% rule) * 12 (months). 

Introducing myself here; I am a former biotech scientist turned to real estate professional.

Real Estate is wonderful! 

I have a very good friend who has been pushing me to get into Real Estate inventing for years.

Start with your closest friends and family but they will invest with you because of your relationship not necessarily because of the real estate or your real estate acumen.