I'm not sure whether to lower price or install a washer dryer or take other action to get it rented. 

I understand that when a market crash happens if people have the capital or are in a good position they can really captilalize on the situation.

My main goal right now is to absorb as much information as I can while I'm still in school so that post-graduation I will be in a solid position to begin investing.

Have you positioned yourself and did all the things you have control over to begin your journey?  

IMO if you absolutely positively have to play in sub$50K, buy a well-vetted 8+ unit (preferably 50+) multifamily property that is $50K per door and bring in professional property managers.

I would like in on the same action as Rachel...Thanks!

If it's to your buyer,  then you can only represent his position, that being that he would like to extend the contract and close on the house.

Also, given your high level of income, I'd posit you don't want to buy a business.

PM sounds like a jerk.. and your stuck defending someone you hired to do the best job possible for you.. they dropped the ball and you need to further monitor what they are up do and doing by physically taking action and checking what's up.  

I would shy away from using student loans, there's usually wording in them that specifies what the money can go towards, and you would be borrowing money in order to borrow money, that is a very leveraged position.