Than I thought it was all the things that could go wrong in the flip, hidden gems like K&T hidden in the walls, shot main-lines, etc.....   

I want to know that the cosigner can afford the rent on their own if the tenant fails.

My perspective is that I'm very pro-California appreciation and I'm willing to take some negative cash flow for a while (if someone can afford it).You mentioned that you may move back in the next 3.5 years.

The issue we are running into is that lenders are not recognizing the excess amount he earns as income, therefore it looks like he will not be able to afford any loans that he would be approved for.

Even in towns where they desperately need affordable house if, they can’t get over the stigma of MHPs.The other issue you’ll run into is highest and best use.

That he can weather for 10-15 years, but not 3 at 25% down with $25k in reserves($300k in sale price would afford). 

These areas tend to provide the best balance of affordability and rental demand.That said, Detroit’s market is unique.

As a college student landlord you may have interaction with parents & if they find you unprofessional that may raise red flags, but if you have your s**t together you can ease those concerns.I am a big fan of college rentals.

I've been able to afford my payments so far without much issue.

Smaller markets like Ocala, Spring Hill, and Palmetto can be great for affordable buy-and-hold strategies, while Gainesville offers unique student rental potential.