A lot of investors based in markets like California and New York are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

Affordable first time family homes. 

Doubling up on deposits or requiring larger deposits might weed out some of the riskier tenants upfront, though it's not always a foolproof solution, especially in markets where affordable housing is tight.Regarding your point about double security deposits, you're absolutely right-this can be an effective strategy.

If she violates your notice and refuses to leave, I believe she will lose her voucher and her ability to afford another rental.

A 72-T exemption known as a Substantially Equal Periodic Payment (SEPP) is a pretty rigid agreement.I don't think you will be able to accomplish the rents-only goal.  

If you make an offer on a property that's in a price point of a house that would also attract an investor looking to build their portfolio where rents are in an affordable price point, you will get out bidded more often than everyone else because you need a cheaper house.

I do not have the time to look at everybody's videos and I can afford to pay someone for their time, experience and knowledge so I can get started and not make the same learning mistakes they did.

I am just struggling to figure out how I would afford the monthly interest expenses as construction on this type of project would take a ton of time and money.The building will be luxury student apartments which on my rough calculations can have realistically 60-65 apartments or 180-195 beds.

At 5 rental properties, you can more then afford it and it will save you time and headache, and even better could save you a lot more money! 

Plus, forming and dissolving LLCs is pretty affordable right now, so why take the unnecessary risk, right?