It's not college ghetto but my city does have a big student body (5+ colleges, and a university).

Cash on Cash annual return = negative 3% annually (-$2304 / $75000)So how much will you potentially make over the next year:D.

Every body wanted to know what happened, local realtors, the HOA among others.

My experience has been that when a condo owners association voted to impose a large special assessment they also line up financing for the condo owners who don’t have ready cash (except in NYC coop buildings where the “best” coops require any body purchasing a coop to have $100 million liquid!).  

Maybe make the move full-time when you're 20% of the way there and you have that consistent body of work as proof of concept.

albany is great for investors looking to get into the business. like most already said appreciation is not really there depending on what you paid for properties. i love the market up there most my properties are two family houses that were purchased for 70k and lower and my returns are over 20% in D areas i like the section 8 program you can find good section 8 clients that wont destroy your property and they have plenty of other programs that help when people cant afford there portion of the rent also clients can lose there section 8 voucher if they do not pay which is a good thing for owners. that being said 2 3bdrm apartments section 8 pays 1300$ each thats 2600$ minus taxes and garbage you will make over 20k a year off lets say 60-100k investment who wins?

I don't have a handy "DIY" bone in my body, but I have cash and I know a lot of people in the blue collar fields of construction, etc.

Both make over $240k+/year (together combined annual income).

We include this in the body of our initial rental agreement or create an addendum later if occupancy changes.

Obviously, removing the body is going be one of the first things to get done.