LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

It just depends on which strategy makes better sense to you (similar to buy/sell vs.  

You can have some student housing, regular long-term rentals, and even some STRs if you choose.

The typical price for land development varies widely depending on the scope of the project, the location, and the type of development (residential, commercial, etc.).

I guess this also depends on how many rentals you have and what features you require in a PMS.

If it is working with subs, a GC license won't help that in any practical way.At the end of the day, it depends on what you are looking to achieve.  

You could look at NLV or Henderson depending on where you’re going to school.

You can then pick and choose what you want to do with the property.

I think prices vary depending on location but I pay about $10 mo.

If you're a lender, I might have some borrowers for you depending on your U/W requirements.