I won't see any rents or income until after the construction phase is completed.   

More than that it is not worth their time to sell as after capital gains tax and commercial broker commissions they get about a few hundred k or so  off of each property they develop.

@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.

Those buying to mitigate year end taxes for the 80% bonus depreciation.3.

In terms of incomes I use the 30% rule.  

Working on large-scale data is great b/c sometimes it's all about how many owners you approach daily; the issue with over-the-top details is also getting lost in targeting specific owners and situations, aka focusers/tax liens, etc.

If you think you can manage a mortgage, taxes, insurance and the upkeep of a home while paying your student loans then buying is not  bad idea but if you think you will overstretch yourself renting is nto bad either.

They are your best option, because when you have tenant turnover, at least you will still have income from the other units.

@Roger D Jones and @Dominic Mazzarella hit it on the head: try seller financing first and see what his cash flow needs are and/or if you can reduce his CG taxes. 

It will still be reported on your personal tax return.