If you're in an area that has a lot of college students then you might want to think about ways to create the standards you need to fell comfortable with this.

I get it I built half a dozen starter homes in FLA that were to minimum UBC code but they are still designed better than HFH when it comes to curb appeal.. and keep in mind your neighborhood is owner occ.. huge difference than subsidized housing. 

Some lenders may have an "overlay" or may not be comfortable with SRO rental income on a newly acquired property, but I have done transactions using SRO lease agreements.Typically speaking, if you qualified to purchase your primary residence, and you have not increased your debts or had a decrease in income, you should qualify for an investment purchase assuming you have a 25% margin on projected rental income vs the mortgage payment.

They have helped my parents retire comfortably, paid my kids way through college and been a great way to store and build wealth.

Obviously this probably means the end of your real estate investing in that area if you don’t feel comfortable with the higher loan.

From hidden structural issues to last-minute design changes, these can add up quickly.

For my fix and flips I use the class designation (each property is it's own class).

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

If you are looking for an investment it is very helpful to know from the numbers perspective of what you are looking for, strategy, what type of areas you are looking in, condition of the property/how much work you are comfortable with, etc.

This means researching the market, understanding tenant demand, and ensuring the cash flow comfortably covers the loan payments.