And he gives the money my client expended in materials.

Not sure I want to go with a hard money lender on my first one, but not ruling out the option if I expend others.

I tend to agree with Benjamin above about small colleges not being safe investments...Many colleges now figured out student housing can be good cash flow for them and start to expend their housing...with a small college that might mean the end of a market...if you want to stick to Ohio then look to Ohio State with it's 60K students in Colombus or Ohio University in Athens with 30K...I am looking in a 8K college town and the market feel tight.

Anything is possible, but it will require more will power than you have ever expended in your entire life.

Where one can consistently beat 1% price to rent, and even flirt with 2% if some sweat equity is willing to be expended? 

The land would have to be a sweetheart deal, IMO and you'd have to know that the pain, time and energy you're going to expend would be relatively equal to co-investing in a larger play or bringing together other investors to do a larger value-add or development. 

No way I'm paying 6% twice and hunting around for 2 months for 90k assets, but my title tells you how much I like expending extra effort.

@Jesse ArriagaYou won't find many lenders that are going to expend the kind of effort you're looking for on sub-75K properties when they can make more money working on higher value and thus higher loan amount properties.  

I have a rental portfolio in NJ and looking to expend here.Thanks, again

I work for a Fortune 500 New Home Builder and I'm tired of the effort being expended yet not compensated amicably.