With student housing, expect a higher expense ratio compare to regular apartment communities.

What I do in those situations is look up comparable properties to mine on the MLS or Zillow and see what those comps are currently selling for.

When analyzing a deal, where would I go to find accurate comparable rental rates? 

They don’t realize that an investor or real estate broker who knows the true market value of the property may be taking advantage of them by actively misleading the homeowner as to the true market value.The problems arise when the investor or real estate broker: Drives down the property value in the seller’s mind by showing them comparable properties that aren’t really comparable.Talks to the homeowner about all of the deferred maintenance that the property needs (which may or may not be true).Allows the homeowner to leave items behind (What is that “convenience” worth - the costs of renting a dumpster, hiring two-three workers for a day to unload your house?

I would wait until you inherit the 50% from the father and sell it to avoid the the large gain as your father basis must be low compared to fair market value.

But those monthly payments are crazy high as compared to the balance because of the shortish amoritization period.They are typically a variable interest rate. 

I always remind folks that comparing the IRA to your taxable self is not generally applicable. 

Did you call around for local contractors and have them come see the property and compare multiple estimates?

Compared to the newer developments, our community is bit outdated (built in the 1960s).

Every deal analyzed thus far doesnt even compare when analyzing return.