Im not a college rental investor, but if it were up to me I would target an area that is safe, clean, high traffic, and a large university. 

I personally say yes, as you can target direct bookings much easier.

At my company, Showplace, we've identified several key strategies that significantly impact vacation rental success after setting up over 800 homes in the last 3 years:Thoughtful Design and Amenities: Creating a unique and inviting atmosphere tailored to your target audience can make a significant difference.

I think your biggest barrier is finding an asset that will meet DSCR requirements in your target location without having 40-50% down.

The primary reason a lot of people move on to bigger deals (80 units plus), is that it's possible to own larger properties in markets that make economic sense but may be far from where you live. 80 Units seems to be the target so you can hire your own full-time property manager and maintenance person, versus relying on local property managers to manage smaller multi-family properties on your behalf.

It depends on targeting the right demand.Owning offers appreciation, but arbitrage provides flexibility without long-term market exposure, which some investors prefer.

On many of our web sites there will also be calculators to help you determine what your tax liability would be.There are a number of folks like us right here on BP who are qualified intermediaries. 

No experience with Fairmount, but after a quick web search, they don't look any different than any other DSCR lender... which means they aren't special.Are you working with a broker? 

How they target the people.

We enhanced the property's value by investing $6,000 in targeted renovations, including necessary repairs and updates.