In such a volatile market that college rentals are, you simply cannot miss the bubble. 

Wasn’t sure what the fees would look like and not sure if the volatility/fees would be worth the short term increased in earnings.

At the end of the day if your returns are better and less volatile using real estate than investing in the stock market there is nothing wrong doing it.

They have a little higher gains (a lot more volatility) but a syndicator who is willing to put you in a deal with more than 10-20% of your net worth is asking for trouble.

A few B class rentals in a good neighborhood my have volatility similar to a bond fund.

On a more granular basis, the Zestimate prediction might have a harder time predicting houses that are more expensive (fewer comps, more days on market, higher price volatility) than ones in smaller price ranges where the AI has more to learn from and where price volatility will be lower. 

But as a buy and hold investor, you can ride out the volatility that the market brings (as long as you know what you are buying).

@Tom S.Thanks Tom Will my volatile job history effect the chances of approval on an FHA?

Higher risk assets tend to have dampened appreciation (thats why they are so cheap as measured against the cash flow), and more volatility. 

In addition the borrower must have unrestricted access without penalty to the accounts; and if the assets are in the form of stocks, bonds, or mutual funds, 70% of the value (remaining after any applicable costs for the subject transaction) must be used to determine the number of distributions remaining to account for the volatile nature of these assets