However, things have settled down somewhat, and the over-riding factor is the business use of the funds, so some HMLs may allow you to take title in your name.In my area, all the lenders still require you to take title in an entity, myself included, and this relates to the state specific requirements on top of the national Dodd Frank laws.  

@Manuel Sarabia The initial approval should only take 2-4 business days the 24-48 for conditions ( Items that the UW is asking for ) 24 hrs for CTC ( Clear to close which means that all PTF ( prior to funding) conditions have been signed off ) 24-48 hrs for funding.The other main factor is how fast can the buyer Loan officer or broker put the file together. 

That's why I always chuckle about those who post about mold in their house inspections.. like little dot of mold  they freak out.. these people live in a literal petri dish most of their lives.. and the other telling factor is when the living room furniture is on the porch.. then you know it stinks pretty bad inside..  

However, maybe due to bad luck, my experience with condos were negative, all due to HOA incompetence.When I purchased and moved into my Elmhurst condo, it was new, rehabbed from a aircraft factory.

The balancing factor is that Airbnb does provide some host protection for damages.

I am currently full time employed at essentially a factory for 7 months now, at $10 an hour, and from word around the place, won't go above $15.

While cap rates (like comps) are interesting, I generally do not use them as go / no go for making a purchase decisions.The determining factor is what options the property presents in relation to your particular investing strategy that will allow for forced appreciation and increased NOI.Best of luck,John

A key factor I don't see mentioned in this thread is the interest rate of your student debt.

I have been funding mid west cash flow homes as and acquisition rehab lender for turn key companies since 2001. well over 2000 fundings  along with over 1000 fundings for buy and holders looking for longer term debt. plus I owned 350 cash flow homes in  MS GA INDY  Memphis and B Ham personally.So I can categorically tell you that the risk and hassle factor is exponentially tied to the value of the asset.. its simply makes logical sense.. if you buy the cheapest home in a given metro area what are you buying into.. ???

I'd be going after larger multiunits, but the financing options are much better on 2-4 units since they aren't commercial.Another factor is price- what can you qualify for?