Although I'm still learning the ropes when it comes to wholesaling, it would seem to me that this could serve as direct competition to wholesalers.

If a LOT of people complain, ask for feedback on your competition.

The time you spend trying to do a decent job a professional can do it in a fraction of the time.

Pricing it competitively or doing something to make it stand out from the competition will keep it rented to quality tenants.

I know here in Oregon we cannot do fractionalized Deeds of trust so in the PDX metro area you would not be able to make a loan nothing is that inexpensive.

This can be done in less than a day at a fraction of the cost of replacing the tub.  

King county is pretty competitive.

I am currently using portfolio lender Rabobank here in CA, they lend at 65% LTV, or 70% with an extra 1/8th, and rates are competitive.  

When this number is increasing that means that either more houses are coming on market (competition) or the buyers are not as active (market slowing down). 

I would love to be able to spend all my time in REI and property management, but that will have to come down the road given our current financial position.So it seems like targeting properties for non-students would be the best choice for our first investment or two.My other concern with student properties is how competitive the market would be; first, for purchasing properties that become available, and second, how low profit margins would have to be in order to attract tenants.