Really interested in investing in this market and would accept a relatively low return (or even a break even scenario because i believe in continued appreciation potential here). 

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

Another option is to look into some funds as well that allow smaller investments. some are anywhere from 500-$10,000 minimums and accept non accredited investors (through regulation a+).If you ran numbers of a loan paying p&i at 10% but ot being able to reinvest the principal payments you realize how low your returns actually are. so yes notes are great but also understand that idle money for any investment is not fun.

Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

On top of that, maybe market rent is at or above what S8 is willing to accept. 

Work with someone who can guide you or just accept that your tuition will be paid through making some costly mistakes which is also legit if you can afford that :-) Good luck!

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

At some sales they will even accept payment the day of the sale during the auction if that property has not been sold yet. 

The numbers no longer look nearly as good on these investments (now more like speculation) and I will now be forced to get my deposit back or accept this new price.

@Yooni ChoiFor a first property, $100/month in cash flow might not be ideal, but it’s acceptable, especially with a house hack.