Should I be using the cap rate to analyze student rentals?

I know the area, it is a hot spot for grad students and young professionals (as myself), with a few large developments coming to area as well.

Bought my first student rental last August and am working on purchasing a 4 unit very soon. 

I have a fourplex in alta vista and ran my numbers expecting a 10% vacancy each year when the college term ends and all the students move around.

I am looking at my first deal and wanting to ask for seller financing (I attempted an FHA Loan but my student loans are hurting my DTI).

The mortgage was about 320k, then i added about 180k in student loans (80) and renovations (100).

However, when we asked for former successful students, where we can ask/interact with them… the school only shown us slides of active members, but not real persons.

If anyone has any pieces of advice they would be willing to share about getting started in real estate in a small town without having a lot of money (college student) that would be extremely helpful! 

Hi all, My name is Brandon and I am a student attending NC State majoring in Civil Engineering.

Hi all,My name is Brandon and I am a student attending NC State majoring in Civil Engineering.