House may continue to appreciate.Cons: Not sure how the revenue plays against social security, Medicare & taxes.

Always ask for references and examples of similar projects (pictures)The Red Flags you have to Avoid:Lowball bids (too good to be true often is).Poor communication or delays in responding.Hesitation to provide references or sign a detailed contract.Cash-only deals or pushy behavior to secure the job.

In addition to using your own funds, have you looked into securing grants to "stack" the capital you have to still acquire properties?

I have seen costs vary widely from contractor to contractor and you want to go in with all eyes wide open. 

I can now see how the those wide gaps in my plan/idea can get closer together and be possible 

@Mic SalvadorThis can vary widely depending on what market you in, how extensive the rehab is, and how you are financing. 

This includes, water, hot water, heat, air conditioning, cable, security system, snow removal, lawn care.

you will find tons of examples, poor signage, little security, worn paint, no one answers the phone, etc. start on google maps, street view, then start driving. you'll know it when you see it.Public Storage/Extra Space Storage it aint!

Background:We have secured a building on a small college campus in Cleveland that currently does not offer student housing to its students on campus.

It shall be delivered full at the end of your lease or the amount to fill will be deducted from your security deposit.Something like that.Oil is tough on tenants because it costs a lot at a time to fill.