We like investing in college towns that have additional economic drivers beyond they university.

There is not much you can determine from just economics, we recommend strong personal guarantees from the principals who will be the beneficiaries of your purchase.

Would love some experts to let me know of some ReFi options,  thanks!

I would be extremely cautious about advising them on how to do anything with their money until I had a proven track record of at least one decade's experience that includes a full economic cycle where the market rises, falls and recovers. 

if that's the case, having an extra 20% in the deal from either buying low or adding value will be a big help in weathering the storm. this will make it that even if you ahve to sell, you could still earn some money or break even. additionally, with a multi it's generally more of a cash flow play, and if that's the case an economic dip won't be too big of a deal if you are cash flowing an acceptable amount with a buffer included. lastly if you get into a deal and have extra equity, you could bring in another investor in the future and "sell" the extra equity to them, while still staying in the deal. there are other options, like subject too's and rent to owns that may work here but for me buy low is the best defense. 

Here are a few thoughts and I would love to hear what others think.Real estate is cyclical and there will be ups and downs caused by interest rate movements, mismatch of supply and demand and general economic conditions related to expansion and recession. 

@Carl Mayer - can't believe I'm saying this, but Greeley is getting a lot of play for having excellent economics and being a solid place to invest.

Basic market economics show that we have more demand than supply, which pushed prices up.

We know we'll have to do 1065 filing b/c of the multi-member structure, but it still seemed easier and more economical than creating and maintaining 2 LLCs... since we dont' have plans for many members or lots of properties, etc.

I’m not an expert by any means.