In an apartment complex, each apartment is a unit.I've never heard it refer to each bedroom, however, maybe in a situation where you are renting rooms out in a house in a college rental situation, each room might be considered a unit.

BP Nation,I'm looking at building 2 rental houses in a college town.

I stumbled into real estate investing out of college (a long time ago now :) in Nashville when you couldn't go wrong and made some big mistakes early on that turned me off to the idea for over 10 years.  

I ask since, I am in a college town and even "cheap" duplexes are in the $400k range to start, so if there are lenders that loan higher and take the added income into account it would be more ideal. 

Check with city hall and if it is not permitted, take them down ASAP.  

Does anyone know how  difficult the building department is with owner builder permits?

Fortunately I have a partner that lives in the area with skills that will be able to handle the management of the property.Some of the pros of the area are seat of government, hospital, many good colleges and affordable properties.

I am in Huntersville and if time permits lets meet up for coffee.Brian Hines

Hey guys,My name is Luke, and I have been very interested in real estate investment ever since studying REIT's in college.

I agree that there are many college majors that have transferable skills to RE.