Loan would have to be assumable from the bank and the buyer would need to meet all the requirements previously met by the seller.  

The sellers says it's just college boys and that's to be expected.He's currently getting good rents...as unbelievable as it may seem and if cleaned/fixed up it could make more as well as increase the value of the property.We own several coworking/coliving properties in the US and Mexico, so we are used to hospitality and properties out of state.However, my questions are;Is this a norm for college students, or student housing? 

Most sellers are looking for 70-90% of the legal payoff nowadays no matter where the property is located, which in many cases is well above the unpaid balance. 

If your market is leaning more towards shorter stays...which does seem to be the current demand nationwide...I would not cut your properties out of that demand!

For investors, it offers unique opportunities to maximize the value of properties and meet the growing demand for housing.

I am not in the flipping market but I handle multifamily transactions for buyers and sellers who are very transactional.

Research landlord-friendly states with lower property prices and strong rental demand, like Texas or the Midwest.

Medford (North Boston) happens to be a low supply/high demand market so I absolutely need to get more comfortable with consistent rent increases but those increases need to be researched and in line with the market. 

Quote from @Itay Heled: I manage nearly 400 rentals and demand is high.

To save those costs, you might want to stick to some year build and older, for example, if you cannot do inspections on the properties that you are buying due to off-market deals or something else that is hindering you (all sellers I buy from do not want anyone in the home till we close).