If you have problems Don’t expect much help.  

Expect a minimum of $100 per person on the cheap end .

What level of communication can I expect post close?

I have an idea of what to expect when managing a dorm, but I am wondering if anyone has any experience with it?

You’ll need to partner with someone and if you don’t have the cash, expect to put the labor in and find the deal to make it work.

@Loan NguyenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

.: @Damian YoungInteresting... but not for meFor starters, while I am not the expert in this, making a loan that you don't expect the borrowers to pay back is somewhere between unethical/immoral and predatory. 

Plus, given where rates are right now, I genuinely believe we're at or near a local peak.I expect rates will head lower soon, maybe revisiting 6% in the coming months.

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

What kind of returns do they expect to take from a 50k initial investment?