Are there any strategies, tips, or potential pitfalls I should be aware of as I explore this market?

They tend to stay longer than a nurse on a potentially-shorter contract.

My recommendation would be to choose potential markets - in several price points - that have strong rental demand and year-over-year rent increases and that also are in markets that are appreciating. 

.$100k can potentially be deducted as replacement debt. 

Explore alternative funding options: Connect with potential investors who can help guide our decision.

They use leverage in some of their funds, which can increase returns, especially if they have a low cost of capital (but potentially increase risk and trigger UBIT issues).

You are losing thousands of dollars a month in potential rents and actual expenses.

Based on what you shared you are not financially qualified to own real estate.

Overall, this seems like a strong deal, but make sure to factor in potential surprises or changes in market conditions.

We fully renovated both units, improving the property’s value and rental potential.