I would at least get the permit to build as many units as possible.Then, you can decide to either build, package the whole deal to sell and roll the equity into something else, or refinance and buy something else.

We implemented a similar program and called it an 'Owners Benefits Package,' but it didn’t go over well, so we eventually phased it out.

Scattered across their floors and countertops are the evidence of their hurried departures: half-packed bags and unwashed laundry, children’s toys and textbooks, bills and paperwork, canned food and loaves of bread, pet cages and, in some cases, the pets themselves.

@Andrew Frishman - here is some food for thought to get you started: https://www.biggerpockets.com/member-blogs/11782/84402-how-to-evaluate-a-sponsor Feel free to DM me with any specific questions, I have invested in multiple deals as a LP and as a GP.

It's not a one-size-fits-all answer, but hopefully this gives you some food for thought.Whatever path you choose, I'm here rooting for your success.Jasper & PatTurning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

I'm in Canada where tuition is different (not as expensive as the US), but the biggest expense I see is what students pay for housing and food, not their tuition (US is likely different).Real estate investing is not passive and not something you can live off.

There is no such thing as FREE college, FREE food, FREE housing, FREE health care.

One of my Bizz partners was the President of STauffer foods ( a Nestle company) He would talk about how important it was to personally hear feed back..

I see it also with our single family rental properties, sometimes we refi a package and they are all finished to the same standard, they are very similar, sometimes on the same street. 

I appreciate the food for thought.