Take your meds.  

With a sole prop, you typically keep all profits and also pay taxes and SS/Medicare on all income whereas with our S-Corp we W2’s ourselves and take draws to avoid the extra SS/Med expenses.

Doesn't Columbia have several med schools there? 

It will be a long-term play because appreciation is low and slow here, but some of the highest risk areas are right outside of very popular areas (huge river renovation/development and out the medical district, think hospitals, research facilities, med school), so it's a good bet! 

So, your send is that should be okay if they don’t have much credit or income (med school student), and the main reason they are on loan is the O/O status, while my wife and I carry the credit and capital responsibilities?

Depending what part of the city your property is located you can target the local hospitals and med students, Universities with incoming fall students, etc.

My fiancé is a med student, and we are also considering using a physician loan on our next property.

I am just getting into this business. my goal is to started in a few years after med. school, any advice?

He looks at me and said, this is for med school students and law students from India who pay cash and don't jack up the place!

The location is right by a med school and renting in that area is strong.