I intend to rent out the units by room to college students (does it sound like this would work in this area and what are some general tips/things I should look out for?).

I will be furnishing one side for now and leasing to a mid term rental until i get a property management company that will work the property or get it leased out to students What was the outcome?

I am starting to get involved with real estate investing, but I am only a college student, so I do not have the income to place a 20% down payment for most properties.

I certainly Do Not know it all and will never be able to learn enough even though I continue to be a student seeking knowledge always.   

However, I am seeing more interest in MTR's and have a colleague that does well buying condos and renting out to traveling medical workers and foreign exchange students.  

Mainly via students and separate room rentals.

(January 10, 2023 )Student Advocates Team, LLC, et al.

Note this calculation gets worse if you recognize the declining value of currency.  

The property is located near two colleges, so I’m focusing on student tenants and planning for 12-month lease terms.Do you have any tips or advice for renting by the room?

This will happen in a market with balanced supply and demand, in a monetary system like the US, with fiat currency targeting 2% inflation.- In some markets, that are growing quickly, with great jobs and lots of inbound migration, this could be a little higher - like 4-5% per year over long time periods as demand outpaces supply.