I have about $4000k left on my car loan and I have some student loans which both of these do have some impact on qualifying for loans.

First figure out how you can even qualify for a loan since you are a student with I’m guessing little to no income.

I'm an engineering student planning to start a business after graduation.

Is there any sort of requirements for the student to be accepted into the program or does the 8K make you automatically accepted? 

The type of rooms students would need or skilled temporary workers, not drug addicts and alcoholics. 

One particular point can not be over emphasized; even if someone has and is willing to invest the capital in attempting to build or scale their business or investments, they still May fail if they do not possess or can not evaluate those who CLAIM to possess the necessary expertise required for scaling. 

Fixing up a property and turning it into student housing is a smart move—steady demand and solid rental income.Great job!

Their debts would include not just car payments, student loans, and credit card payments but also things like child support paid.

On the RE side - I own/developed 2,000 residential units across the United States focusing on opportunistic residential acquisitions and development, including student housing conversions and luxury multifamily development.On the startup side - it is a third-party guarantor platform that expands your renter pool, increases rents and occupancy, and ultimately boosts your NOI while broadening affordable housing options for renters.

I am a soon to graduate 22 year old student athlete/Husband/Father.