I want to use my 18 month interest free credit cards to pay for the rehab and cash out refi to pay those off after the job is complete, place either a college student(s) in the home or rent to section 8 tenants once everything is complete.

If you have a home with a lot of bedrooms in East Amherst by UB North it can work but, that is a really competitive market with a lot of student housing, doubles specifically dedicated to student housing but, privately owned, etc...I own one by UB South that is a 3 bedroom with a finished basement that rents for $1,350 + all utilities .

University students nearby were hot on the market, and I couldn't turn down the rents I could get.

I'm a full-time graduate student at DePaul University pursuing my doctorate degree as a Certified Registered Nurse Anesthetist.

I'm a full-time graduate student at DePaul University pursuing my doctorate degree as a Certified Registered Nurse Anesthetist.

From 85k of students loans me and my wife have brought it down to 30,000 in less than 2 years .

Potentially look for a small duplex/ quad, live in one and rent out the rest (as a buy & hold) potentially to college students with parents as cosigners of course or should I focus on raising capital while this tipping point boils down and prices drop some before I decide to go in?

I've been reading and consuming content for 8 months, my husband and I are working to save our first 25k, and I have a hefty student loan bill I'm paying down. 

Then you can collect passive interest on the way down and sell for a capital gain when interest rates bottom out again.If the market is head down for let's say five years, I would avoid dividend income from stocks, because the capital loss will probably put you in the red, unless you can hold til the top of the next cycle.If you find true passive income with low risk and little capital (assuming you have student loans like myself), please LET ME KNOW :)

My initial thoughts are to convert it into student housing where I've heard some people will rent rooms out to international and domestic students and collect a good sum.