I started from scratch during college about 12 years ago.

It is right by a college and I was wondering if buying it, rehabbing it, and then splitting them all into their own condo wouldn't be super profitable...especially with how I hear more and more about parents buying properties near their kid's schools and renting them to their kid's friends instead of paying the crazy campus living expenses. 

In this time, I plan on paying off all my debts, saving up some safety money, possibly starting an LLC, and obtaining my real estate license (currently 12 hours into my 75 hour course).I live in a college town that's perfect for rentals, so I'm thinking on my first purchase, I'll buy a home to rent out to college students (with parent's cosigning of course).

I was never one to sit in class in college.  

I ask because obviously I will have limited funds graduating college and need some sort of start off point.

I buy newer properties because I don't want to have to worry about a roof replacement until after my son graduates from college.  

Hello, I am considering investing in real estate after graduating college, is it better to go this route or get a job through my degree first and work a few years there.

After leaving for college I came back to Madison to raise my own family.

I'd like to be able to put them through college (if that's what they want--if my business takes off, I'd be happy with them learning it).

I would do some secondary market research half way through your flip to determine how much you could possibly rent the house for vs how much you anticipate being able to make on the flip (you would know this anyway if you were looking at your variance to your original budget).That being said, if the property happens to be in a high rental area (like around the colleges in WB) it might make sense to rent considering you will have a consistent flow of new renters.