Obviously the rational thing here is - move on, and do something a bit different next time.You see, Brian, the first and most important step in any success is to take responsibility for everything.

Your DSCR (debt coverage ration is negative as well). 

-Rentals will become more prevalent, but that means more homes will be owner by investors who, on the whole, tend to act more rational than an owner occupant and will invest rather than consume.

Think about it rationally-- that $30K down payment will pay for itself in less than 3 years in income, and then that additional $12K rent can go towards student loans.      

I get the sense you really like the fact that the building is newer but I think you're trying to rationalize purchasing it looking through blinders to make it work.

And for what it's worth, I do think there's a lot of rationalization of what is a C vs. a D area.

It's far from a 1:1 analogue to the real estate world but it does show the downside of institutions being overly optimistic about life post-graduation.Andrew, this has helped me understand the numbers and puts a heath of rationalization on it.Specifically when you said, "These failure numbers should turn away those who can't (or aren't willing to) go all in.

Will the rents in SoCal be enough to balance out your debt-to-income ration? 

We are all human and we have basic needs and rationally seek to maximize our returns for our time.So how do we make it fair and appealing for you and your partner?

If the investor ration is higher, you can go of portfolio lending.