The fees for the test, state real estate bureau fees and the office you work with are a few thousand dollars a year. 

I know based on my own extensive travels that it often has to do with the feeling a place gives.I love the Mediterranean style and my future properties are planned to be close to beaches makes me wonder if that is something that should go into the furnishings and color schemes as well as potentially the name of the enterprise.

Brian, In CA negotiating on behalf of either party in a real estate transaction requires that you be licensed by the California Bureau of Real Estate, so unless you are licensed, negotiating with a seller on behalf of your students could be illegal.

I have my BRE (bureau of real estate) license in CA and have successfully purchased, extensively renovated, and resold my own personal investment project over a 6 month period.

Is there a common enterprise?

The path there for you would be to contact the credit bureau and simply send in proof of active duty and ask that any derogative credit lines be removed.  

@Alexis and spouse, if you do receive an Adverse Action notice and were denied in part because of credit issues, you can contact the credit bureau that did the check and get a copy of the report. 

Hi All,Just wanted to introduce myself -- Abdul is my name, I live in Brooklyn (Prospect Lefferts Gardens area) and work in Manhattan, where I am an investment officer and attorney at a bank for a team focused on supporting socially-motivated enterprises.

I agree that it makes sense to have it as a precaution, I guess my hesitation comes from other appraisals we have gotten (while doing bank financing) that used terrible comps and regurgitated census bureau info for an area far too general to be of any value, and ended up just coming in at the purchase price anyways.

But creating your own is good practice for down the road.In addition to the maid service you'll need to look at:TaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and Ops (my personal minimum is $150/roof/month)InsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)For each property.Student housing is a highly profitable enterprise if done correctly.