This will be a capital intensive endeavor.

@Lionel HendersonHI LionelWhy do you want to jump into apartments if you have found a niche that is working and that is much less capital intensive.  

Over the last 2 yrs. it has gotten easier and easier for Mortgage Brokers to take deals away from banks.Kinda feels like being Michael Jordan, back in his prime, walking onto a basketball court with a bunch of junior high school players and having the ability to completely dominate!

For me it was too labor intensive for an out of state investment and I primarily focus on multifamily. 

These goals are usually directly achievable, and crystal clear, like "Sell X amount in advertising for BiggerPockets" or "Write a blog post" or "Workout 3 times intensely in addition to practice."

We are happy to help any way we can- we have a great 21day (intense) rehab schedule that is great to shoot for.  

oh lordy) and the very real likelihood of some other fun surprises as @Ralph R. mentioned, I'd say you're in for more than a few months of intense rehab work, some pretty high costs, and a lot of stress.

-Speaking of hiring an attorney, your due diligence (feasibility period) is going to be intense when you get one of these under contract.

With some nice upgrades, I would hope to target staff, grad students, or even the more responsible undergrads.I also understand the STRs are more work intensive but the returns can be much higher.

Even get them to replace dated systems (HW heater, AC, etc) whose deferred maintenance will likely cost you in the next 3-5 years or so.  2) Another creative (but depending on how you do it) possibly more work intensive idea to improve cash-flow --> rent out the other unit by THE ROOM.