You can keep renting and saving but that doesn't give you control of that living situation and money that is not working is losing value. 

Those major cities that you mentioned are fantastic options and have TONS of potential tenants/students, but their barrier of entry is much higher than traditional "college towns" like Lubbock or College Station.

I dont care to ever be a land lord, GP or LP, RE seems to be either a lot of TTT ******** or you invest as an LP have no control over what’s going on. 

I purchased similar to you with all parties agreeing to the terms (8% below appraisal on property with drastically under market rent in a rent controlled jurisdiction).  

Is a rent control area.

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

Quote from @Andrew Steffens: At 65 doors it is quality control and managing guest expectations.Yesterday someone threw a fit we do not provide snacks as they checked in at 4am and were hungry... 

@David WillisReviewing the ChatGPT response above - if you go with a bridge lender they would probably want to refinance out your other portfolio to be in first position on those assets - I don’t know of any bridge lender that would go into 2nd on all of them unless it was more of a mezzanine lender against the company but if it went bad they step in and would take everything (literally) as mezzanine debt takes ownership and control of the company.

But you'd be surprised at some of these average smaller towns can do STRs very successfully. 

Apparently the GP/fund struck an agreement with a local town earlier this year to build a campground in a popular trailed area owned by the town.