This works OK for relatively static and simple investments like a private placement or crowdfund, but can become rather cumbersome and expensive with a more time sensitive and transaction intensive asset such as a rental property.

I could tell you personally as an investor I was never more stressed ,more busy and lost more money due to owning these properties and as a management company I can tell you that did not change the challenge of these properties is they are very high time intensive type business models and if you were not there to be hands-on to deal with the older properties ,higher maintenance ,month to month type tenant mindset you will not only lose money but the personal stress level you will endure will make your whole real estate experience a negative one We got to the point when we were unloading are low income properties that we actually had to come to closing with money but we did that because we no longer wanted this to be our problems.Just make sure that if you do move forward and buy these properties that you’re buying them with the strategy they will align with your future goals find a deal because you think it’s a deal if it doesn’t not align with your goals it’s not a deal it’s a diversion from focusing on why are you involved in real estate.I know because I learned this first hand and it was a very expensive and stressful mistake that I would not want anyone else to do them selvesWe have 50-60% of our investors Come to us from out of state and even though they start not knowing anything were able to help and guide them by being on their team to give them the right advice so that they understand why they’re even doing this before they ever actually buy

If it doesnt work out, get another job.Better money in an industry that you want to become involved in?

For you as a tenant/buyer, it might work out just great.Also, you might try to buy something 'subject-to' existing mortgage. 

(Be sure to triple check your numbers and make sure they still work with this new debt)Work out a deal such as a Master Lease.That is all I can think of at this time regarding options for any deal. 

If this doesn’t work out, no worries, the best deals often take a lot of patience and time to find.

I will be living there about 2.5-3 years and for me the numbers work out so that I am not paying rent while I am going to school and also the rent after I leave will covers the mortgage.

How did everything work out?

Best of luck with your new real estate venture. 203k is a great way to go, very paperwork intensive though.We're investors and property managers in Central Mass as well, so feel free to connect. 

The numbers work out exceptionally well based on 20% down and conservative financing numbers: 14% CAP, 30% COC ROI, NOI of $45,900.