I’ve often seen this happen where initial approval is given, but debt-to-income issues arise once they discover you’re purchasing another property.

As I studied earlier, the first thing you should do is marketing, then get a call and do a property analysis to understand if it's profitable for you, then meet with the seller and sign all the necessary papers, then if there is a debt in the bank we do a reinstatement quote, then do a title search to check if there are any hidden debts, if everything is fine we look for an investor or flipper and sign an assignment of contract with him and wait for closing to get our money.

If you're a good student and can get into a good college without going very deep into debt, I believe you should go.

In general, multifamily properties are a popular choice for investors because they offer the potential for cash flow, scalability, and the ability to amortize debt across multiple units.

If they won't let you build on it, explore doing a lot tie agreement so that you can combine the parcels and when you go to resell it, you can ask for a higher price point based on the large lot.

But if you're able to figure it out and get it built, you can rent out the units and essentially BRRRR it and pull some/all of your equity out to repay your debts, yourself, and potentially keep the investment cycle going. 

That means their pricing tool is designed to price beneath the rest of the market, which drags the entire market down, especially when combined with their algorithm changes a couple years ago that made pricing (IE lower prices) the #1 factor in ranking.Even if you use an external pricing tool, it gets dragged down by the people using Airbnb's pricing. 

You can get a $1.2M stop-loss policy that kicks in after $300K combined losses on all 5 units.  

The list comes out at least 30 days before the sale and the owners have opportunities to pay off the debt anytime in those 30 days. 

If it were me, I would buy cash flowing, seller finance deals, keeping my debt to income low, low down payments and negotiate competitive terms.