This is in a college town so the initial instinct was student housing.

As suggested, focus on what the rest of the credit report tells you regarding history of collections, accounts 60 and 90 days overdue and just how much of this applicants funds are tied up in financial obligations (car loans, student loans, etc.)

We typically have our student houses and apartments re-rented by April - well before they even become vacant.

We were going to try to rent to a professor, or to an assistant, or to grad students.

Day 2, I attended the Marketing/Wholesaling, Student Housing & MultiFamily homes, the Top 10 MultiFamily Syndication Mistakes, the panel on MultiFamilies, Turning Class A Properties into Profitable Cash, and the Digital Marketing presentation for Visibility & Sales.  

It's frustrating, because of the delays we missed out on leasing to students (its very close to a college), and now the garage apartment renovations probably wont be finished until around Thanksgiving.

I am currently a college student at FIU.

At first I was thinking that I would wait until I payed off my student loans to start investing, but now I'm thinking I may try and purchase some cash flowing properties to help cover my student loan payments so I can use my income to save for more.

Mortgage is 219k@ 4% interest, we pay 120$ in PMI within the 2300.Our student and car loans are around 100k@ an average of 5% interest, with a monthly payment of 1400. 

For me, I had failed to make payments on a few credit cards and student loans.