Going for second trip in January for some more research. 

In addition I am giving him freedom to explore (to a certain extent) on my dime.

Paid-in-full real estate almost always results in sub-optimal returns.Do this math. 

It would be mainly rented to alumni, parents of students and people exploring the area by the University of Florida.  

By any chance are there any agents on this site from there?

Thanks so much in advance for your help—I’m excited to be part of this community and learn from all of you! 

Any help or tips/tricks would be greatly appreciated.Thanks!

First time on this forum, and just introduced through two books I just read by David Greene and Brandon Turner.  

I would try not to tie up any of the principal in down payments.Personally, I had a family member do this same thing, but they used an investment portfolio as the collateral instead of real estate.If you play your cards right, this might be the only short-term money you ever need.Please let us know what you end up doing.

You could also explore seller financing or a bridge loan to give you more flexibility.