Or are you referring to there already being a lot of student rentals available, therefore the rent is closer to $300-$400 per room? 

I like to look at each component of the process on an itemized level first so that when I do work with a developer I can have my own reference for all the bundled costs associated with the build proposal. 

Ensure the plumbing and electrical connections are regularly checked for any leaks or faults.Lighting and Fixtures: Modern light fixtures and ceiling fans add aesthetic value and comfort.

I'm guessing it would be about 50% cheaper and with regular maintenance it should last you 20+ years.

It can also be used to track various sources of rental income to help you manage your cash flow.How to get it: Goodbudget is available from the App Store for iOS devices and Google Play for Android devices.Cost: Goodbudget offers a free plan with 10 regular envelopes, 10 “more” envelopes, one year of history, and debt tracking.

Connect with @Joseph Chiofalo he’s done some STR loans there recently for those same clients and can refer you a local RE Broker.

Hello @Vinay Sanapala,I recommend listening to the excellent comments from: @James Wise, @Drew Sygit, @Jay Hinrichs, and @Mark Cruse.I regularly read people claiming that Section 8 is free money and guaranteed.

@Imani Naomi since your other post references investing in MFR, you are probably looking for:Institutional Funds: there are financial ompanies that run pension funds, etc. looking for places to invest.

You still have a young loan so  let the amortization run its course and set your regular income aside for the next opportunity/project that you want to explore.  

Once the rehab is complete, the loan just converts into a regular mortgage, so no need to refinance and no second set of closing costs.As mentioned above, you haven't posted a ton of other details, so there may be a lot of variables, but I did a deal as a buyer in this fashion in the past.