You can do this without bankruptcy and if you continue those new habits you can move on to buying an investment.

@Caleb Rehg  I would advise your first step is to search this site for college student rentals and student rentals and read all you can. 

The document is pretty explicit with contingencies should anything go sideways along the way though so this helped a lot to keep everyone on task. we've built rapport at this point since we've been in constant communication from when we started but in the beginning, it was a lot of trust in the document.

This will be the best platform to educate yourself on investment strategies.

If you have favorable terms on those first mortgages, you might find that a HELOC or a second-position loan is more cost-effective than doing a full refinance or a DSCR loan.

One more tip hit town homes and condo communities in the area.

Quote from @Christopher Lynch: This is a solid start for the capital partners willing to do the 100% fin and then 50% on the profits.

I am looking to purchase more rental properties in the near future.

Hi Umesh - I am looking at this program also.

If you and your wife are on the same page, I say absolutely go for it.Don't worry about the naysayers telling you to invest out of state if that's not something you're comfortable with right now.