I am drawn to these sorts of low-cost buildings and neighborhoods because I just don't have a ton of capitol or resources to get running - also, I have a lot of student debt (not quite 6 figures, but I'm pushing it). 

Take the deal off the market by tying it up subject to the liens, don't release any more that a few dollars, then work on getting full or partial releases of the liens.I haven't seen an "and/or assigns" clause drafted in that manner since 80's gurus told students to append buyer vesting with that term.

Since I'm a student I have low taxes,so I want to pass the tax benefits on to them, while retaning the cash flow.

@Joel Owens - I had a teacher in a property management class that way back in the day would fill evicted tenants cars with the items from inside the property and make sure the car was in a no parking zone.

I got an engineering degree, average student, and had tons of options.

I was supposed to be his "first" student.

She lives a simple life, and that is good for her.But because of her I never have carried a balance on a credit card, and the only debt that I have is student loan debt at 2.75% (not too bad). 

student loan?  

Its in a good area by a local university and he feels it would be great for an investor to build a home/multi-fam, or boarding house to rent to the students.  

Are med students a good choice for renters.