I'd observe that by nature your go-to loan officer or mortgage broker is probably perpetually paranoid about anything that could threaten her or his ability to qualify for future fannie/freddie mortgages, and micro-manages her/his annual tax returns accordingly, checked only by Mr. or Mrs.

I usually keep my records for 7 years, then shred them, but real estate stuff I keep for perpetuity. 

But if you don't, you only perpetuate their poor work ethic, behavior, etc. and they continue their downward spiral.  

This subset of boomers are still perpetual tenants with shaky finances, but not as bad as they'd be if their credit addiction continued unabated. 

Most people think that brokers spend their time marketing and selling properties and that may be true for the firm's rainmakers but those firms have teams of people who spend all their time perpetually contacting and fostering relationships with apartment owners.  

It may be that at the time of applying for the loan, the borrower granted all future owners of the loan the right to pull credit in perpetuity.

At this point it's kinda hard to tell if it would be a good fit for you, as I'm going off the stereotype that students don't a lot of money to throw around, and you already mentioned you don't have much spare time.

The cash flow is an added bonus, and helps to perpetuate the cycle of accumulating properties.In my area, one can get $200-300/mo + cash flow (after the above mentioned expenses), but you will be in less desirable parts of town and have higher tenant turnover, evictions, and outstanding debt.

But I have no sympathy for the bad actors in our business whose actions perpetuate that perception.

If possible, I'd love to not move at all while doing this, but I think I need all of the equity out of my primary to support myself and quit my job.I'm really trying to not live in a perpetual construction zone, especially not with my toddler, which closes a lot of doors.