Working with a PM that specializes in this area, we have a strategy that involves complete reno of units, combo of section 8/market tenants, getting rents to market and offering a quality living space that attracts better tenants. 

If you are hoping to make a positive cash  flow or an increase in value, no matter how you feel will not have a positive outcome.If you are counting on the rental money or an increase in value, I hope that it is close to amenities that would attract vacationing people or have real good sightseeing because no matter how nice you think it is will not matter to the renters.Good luck to you!

Either way I really need to acquire the knowledge or no how on attracting these private money lenders.Thanks so much for your answers, I really appreciate your responses.

I am working with residential agents but I am wondering if I need to search out a designated commercial agent/broker.  

What kind of Renters are they attracting (are they getting students like you hope to)?

I’m finishing up my sfr designation and want to know, what is the best way to get in with banks as a listing agent?  

There seem to be a few sites out there that are designed to help landlords in your situation. 

Having said that it is not designed specifically for this type of business.

I was wondering and wanted feedback from the BP community about whether the current real estate market is not attractive for the lease option strategy. 

At least with real estate things don’t change overnight so if you keep on top of the market and notice things are changing you can get out and reinvest in a more attractive growing market .