Just be prepared for potential vacancies.My advice is to build relationships with university housing offices.

I’ve built strong relationships with agents, contractors, and other investors in the area, and one of my contacts informed me that the owner was considering selling but hadn’t listed the property yet.

Reaching out to multiple brokers in the area and building relationships with them will probably be the most important piece.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Are the new builds for owner/occupants or build to rent?

Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors.

I’ve built strong relationships with agents, contractors, and other investors in the area, and one of my contacts informed me that the owner was considering selling but hadn’t listed the property yet.

You're smart for recognizing the importance of building relationships...very few wholesalers in my area understand this. 

Additionally in terms of a GP/ LP relationship, would preference of LPs create the same dynamic in choosing one GP/Sponsor investment over another, if all technicals and numbers are the similar between two investment?

It's a business - acquiring/building, managing, and growing a business.