How did it play out?  

Unless you are looking at an appreciation play where you fix up the house while you are living in it, 3% CoC is not a great deal. 

I would then take that profit when available convert it into $USDT and play a 100x futures bet short or long ( most likely long) to return 4.8% profit per twenty-five dollars of movement.

College students don't demand high end finishes, so there may be no value add play on this property. 

This how a typical private lender might loan on your deal:$100K ARV$50K PP (let's assume seller is playing closing costs)Lender will only loan $65K. 

Your income will go a long way for you with your buying power when qualifying for your FHA loans.With closing costs and everything, if its not a major fixer, 75k is probably a safe budget to play with.

Even if you can reduce the amount you're spending in rent right now (3.1k), you can still be a part of the appreciation play (although I wouldn't hold that as the main driver). 

The equity play would likely still make it worth it to buy there though, IMO.

You can even play with some numbers on DTI calculators and ballpark estimate where you will be after your Refi. 

Your best play is probably taking advantage of the VA loan to acquire a property.