Based on the fact that you are a full time student with no money and no credit your best approach would be to concentrate on school, if that is your desire, graduate, save money and build your credit.

As a graduate of the university, I know first hand the rental rates students will pay as well as the more desirable neighborhoods students would like to live in.I know the area well, and would be happy to help any way possible.Sean

Desirable area. 

Here is a part of the letter, I sent to the seller:The home inspection was completed on September 29th (please see attached) and the following issues were pointed out: 1.The wooden floor frame in the middle unit is deteriorating due to either prior water leak in the bathroom or due to moisture infiltration through the walls and foundation.2.There is evidence of significant settlement under the middle unit bathroom and north closet.3.The settlement of the floor and walls has also resulted in settlement of the roof frame above this area, ceiling shows cracks.4.There is an obvious depression on the roof – water is ponding on the roof above the middle unit, which adds excessive weight on the roof and potential for leaks.5.Asbestos containing material has been found.6.The current bedroom heat installations in the north and south units pose a safety hazard from carbon monoxide, fire and oxygen depletion.7.An electrician performing upgrades did not use ‘arc fault breakers’ in the north and south unit breaker panels, which is required by the national electrical code.8.Upgrades to the electrical system, promised by a real estate agent, have not been completed yet.

So here is my case for So Cal:- Advantages of local including expertise, cost to get to property, able to self-manage if desired (typically ~10%).

I agree with your thoughts on making rentals more desirable to college students and with staying competitive through price.

I joined BiggerPockets because I would like to learn about the real estate business, network with the community and add my entreueneoural experience when required.   I would like to start building my real estate portf...

That discount as well as the vintage of the loans insulates the fund, in a sense, from fluctuation in market rates rising and falling.There is a correlation to investor desired returns and prevailing market interest rates and returns however in general the closer you are to market returns via market interest the more sensitive the investment would be to rate movement.  

It looks like you are desiring this for a residence and not really looking at it primarily as an investment. 

Study after study PROVES that the best place to add a dollar to our economy is UNDOUBTEDLY in the middle to lower class households if the desired affect is to bolster our overall national fiscal health.