For Cashflow, I invest near the University of Cincinnati, because I get the same rents you'd find in Hyde Park and Oakley, but I pay 50% purchase price of homes in said neighborhoods. 

Full disclosure: I lived on campus all 4 years and never rented where I went to school though probably 95% of the upperclassmen rented locally.My sibling attends a Californian university and rents a room in a duplex.

@Tom HurfordThe house is 2400 square feet, brick. 4 beds, 3.5 Bathrooms, University Heights, OH (near Cleveland)ARV: $240K-$260K Initial Budget was $58KBid from contractor: $59KMaterials I am providing: $16K (incl 2k contingency) (in bold below)Rough Scope: Landscaping (clean out window wells, remulch beds, trim bushes and trees)- L: $1845Masonry ( Tuckpoint Chimney, Tuckpoint exterior masonry around porch, powerwash brick) L&M: $1200Windows (Replace 16 Windows): L&M:$3600Roof (Inspect Slate Roof): $150Gutters (Replace all gutters): L&M: $1200Deck (Powerwash and stain): L&M: $500Front Porch (Scrape and Paint Iron Railings): L&M: $100Exterior Lights (5): L:$100, M:$200Kitchen (Complete upgrade, counters, cabinets, tile floor) L&M: $11,000, Appliances: $3,000First Floor 1/2 Bath (Complete upgrade,): L:$2000, M (supplied by me):$550First Floor Master Bath (Complete Upgrade): L:$4500, M (supplied by me):$2400Second Floor Main Bath (Complete Upgrade): L:$4500, M (supplied by me):$1800Third Floor Main Bath (Complete Upgrade): L:$2000, M (supplied by me):$1600New Entry Doors and Lockset (3): L:$300, M (supplied by me):$1025Finish Basement walls and ceiling (Frame, drywall, and Trim, 400 sq ft) L&M:$10,000Finish Basement Flooring (LVP): L:$1500, M (supplied by me):$1000Refinish Hardwood (1300 sq ft): L&M: $5000Electrical (Replace outlets, switches, faceplates, interior lighting): L:$1100, M (supplied by me):$1026Paint Prep : L&M: $600Paint Interior (floor (basement), ceilings, walls, and trim): L&M:$5000Exterior Painting (Garage door, house/window trim): L&M:$2500

Definitely some money to be made in the large public Universities 

It is a booming economy with East Carolina University, Vidant Medical Center, and a strong industrial base as the main drivers.

I recently graduated from Clemson University and got a job as an engineer just outside of Athens, GA.

They covered a ton of material and it was structured in a way that most universities do.

I am looking at a sale of two lots together in a residential area, walkable to a small university.

Because we have Ohio State University here  and we are the state capitol, its a great market for multifamily properties.  

I actually have a hard time even going East of University - with a couple of notable exceptions (SW corner of South Overton and the very west side of Heart of Lubbock.