@Kyle Knudsen  I agree with Denver, with a 1031 you must move all the proceeds to a new "like kind" property. 

Moving to CO this year.

Also, co-living situations or top performing short-term rentals can produce a pretty high cash on cash return but again they are pretty active with a high turnover of tenants and guests unless you find someone else to manage them and then you are usually paying a good portion of the profits to the manager.But let's say that you have a job and are not interested in fixing and flipping or a high turnover type of investment and you would rather be a more passive investor.

One thing I would definitely recommend is getting the students' parents to co-sign on the lease.

I have a program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable.  700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units. 

I have heard good things about Ohio, Indiana, etc.5 - Due to high interest rates flipping has become highly risky and most businesses have dried up.6 - Co-living and Assisted living seems to be popular right now.So - really depends on your market, your strategy, and your timeline.

Here in East Tennessee (Sevier Co/Sevierville, Pigeon Forge, Gatlinburg), we are consistently ranked high on lists-for good reason. 

We hired and paid an appraisal co to come out on a Saturday so lender would have it on Monday.

We just joined Bigger Pockets & are looking to connect with others who do creative deals in Denver Metro & surrounding areas.

We've had some success recovering money owed, and we've seen it on credit reports.Recently a former tenant attempted to co-sign for another prospective tenant.