It does not matter where you start as long as you develop your Core 4.

Also, having been in the biz as long as I have been I know the questions to ask the proper answers. 

Leverage will be the way you can scale income streams in the future.In the meantime, work as hard as you can, as long as you can, as soon as you can, while spending as absolutely little as you can.

As long as you have access to 30-yr fixed rate debt you should take it.

That being said, there may still be something here as long as this property is not on loopnet or MHPStore yet.

@Scott Pollock it's actually within FHA acceptable guidelines to have a 2nd fha loan if your situation has changed unexpectedly as long as the new subject property is 100 miles away from your current fha primary home.

If it's a smaller college in a bigger area where you could still rent the units normally, then as long as the regular rent rates would work OK you should be fine.

This is a riskier rental and I would make sure I was being compensated appropriately above market rents but this could also be a great niche for you as many landlords would not do this and you will most likely have long term tenants as long as their business is solid.  

So as long as you make an educated decision cool.  

Such a large market presents a potentially lucrative opportunity for real estate investors—as long as you understand a few unique characteristics about this demographic.Consider location relative to campus accessibility.