I have rented to college students that swap tenants, and I informed them that the deposit is to be worked out between themselves, and I am NOT returning any deposit for a renewal.  

I don't see too much market growth in the area based on historical data, however it is right next to Lenoir Rhyne university which enrolls around 2,000 students per year. 

We "own" our home and he isn't willing to jump into any more debt until student loans are repaid.  

Nothing wrong with that, I have a student rental like that. i bought the house already converted, they enter into the kitchen, the dining room became the living room and the living room the bedroom. the house still had a perfect flow through it. that will be value added for you, turning a one bedroom into two.

But I've heard that the two universities there started requiring their students to live in the dorms and it was otherwise hard to find good, quality tentants who weren't on section 8.  

At this particular point in my life, I am not going to be the one who has the money to put up big down payments for properties (students loans), but I am attempting to form a team that would be willing to work together to make our collective dream happen.

@Daniel Montes ok I'm down I'm your humble student teaching away what advice do you have for me please for your help

I am a college student who is going to be partaking in the journey of real estate/real estate investing when I get out of college.

It has worked for me thus far, and even though there is good debt (like my student loan that is always paid on time) I have always had the theory "if you have to borrow to get it, you don't need it."

I am a student at VCU and would love to get some real world experience.