Rent-by-the-RoomWith 5 bedrooms, renting by the room could provide higher cash flow, especially if marketed to students or young professionals.

The investors all are going to turn it into something else - low income housing , student dorms, self storage, transient housing, drug treatment, etc.  

Later you could convert to student housing.This is rock-solid advice.

A scholarship because of good grades is huge, as school debt can really be a drag on your economic future depending on your profession.

Another option is renting to professionals or students who need a place for a few months.

I stayed mostly with Multifamily as other sectors like Student housing, Senior care, Hospitality and NNN have too much risk for me. 

This enabled our mother to work towards a better paying job/profession in a dignified manner.

For instance, a property in Windsor Terrace purchased in the year 2000 for $140k is now worth $1.2 Million, conservatively.A more recent purchase, a Brownstone I purchased in 2015 for $900k and renovated for $300k, so all in for $1.2k is worth $2 Million now.Do keep in mind that past performance does not indicate future performance.However, these kinds of numbers are very typical from 1998 to now.When I was teaching, I used to ask my Investor Students, "What is a Bargain?"

If they can’t provide evidence of this, or a Visa (student, etc) that authorizes the duration of their stay, then they’re here illegally.

However, it’s not the only way to get the qualification, it allows for Self and Homeowner declarations and documentation to add up experience, its just not as easy as an existing GC stating “he’s good to go”.Pursuant to Business and Professions Code (BPC) Section 7068, applicants’ experience must be verified by a “qualified and responsible person.”