We even had tenants ready to go – a couple starting pharm and med school.

I had some minor surgery this morning and I am on pain meds, I have to train a guy the rest of the week also.  

You'll likely be paying more than $12k on $50k......as it is flipping income, you'll also be paying the 15.3% SS/Med self employment taxes.

We would need to live in the house for 5 years while my husband finishes med school.

Home Depot has nice vanity med cabinet combo deals for a decent price.

Look for grandma's meds or pills she dropped on the floor, spiders, webs, etc.Hire in a professional carpet cleaner.

Undercut the cost of a dorm room and get a serious upper level student, not a freshman, (like pre-med or engineering) and you should do well.  

The Med School in Lebanon will be providing quality renters for many years to come. 

It is ordinary income tax, plus the self employment 15.3% for social security/med.

Center square is on the opposite end as far as price goes, but if you can find a deal there, you can get rents at $1000 for a one bedroom increasing your class of tenant.I've tried to set my sights somewhere in the middle of this, trying to find something that will cater to grad school students around Albany med where you can get $1500 or more for a three bedroom.