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.

The hard part was finding out where the tenant had gone so I could have him served papers by the constable.

They either serve mom and pop with their personal checking and vacation loans, or multi $ billion deals. 

As to markets served by wholesalers, you are correct.

They are serving it up like you are guaranteed to make $500k.

- and finally once you do this, realize it will never even be close to how it actually plays out in real life, but it can serve as a guide for what sort of money you may need to save up to try and actually accomplish something like this.

I appreciate the food for thought.

Well, if I'm buying to flip and it's going to cost me 3-5 months of time, effort, holding costs, risk, etc, and I'm only going to make $30k off the final sale then it serves to reason that the wholesaler would make less because they have less skin in the game.

Those assumptions are all documented within the PPM.Information from the sponsor is important but should serve as the starting point. 

Despite current unemployment rates maintaining below 5%, the recent rise from 3.8% to 4.2%(recently revised to 4.1%) is significant, especially when considering wage growth adjusted for inflation.Over the last few years, the median household income has dropped by 7.2% when adjusted for inflation (and this isn't even considering volatile food and energy prices), a troubling trend given that inflation has outstripped income growth.