They make sense and bring balance back to this situation. 

Nothing is passive and even US treasury bonds which are considered the safest investment require one to monitor the economic climate.

It also stays off of your personal credit/DTI which will help you as you live your life outside of these properties.Those will be a specific set of lenders that you will want to look into as many of them have different requirements that you would have to adhere to, but overall much more of a simpler process than your conventional lenders, while being a couple of points higher in processing. 

(think guest house or apartment above the garage)Financing the Next Property: FHA loans require as little as 3.5% down.

They required approval onsite for repairs if over the NTE. 

Maybe I am misunderstanding or wrong in some way, but I would definitely reach out to your accountant, or a good one in the area as they can get a full overview of your situation and recommend based off what is required in Missouri. 

Finding the deals requires some savvy marketing, and sourcing methods.

Research the licensing requirements and know the right questions to ask during the vetting process.

Guides on how to deal with some of the nuanced regulatory/filing requirements specific to Detroit are provided. 

This is something to budget for when considering this type of rental.Management Intensity: Managing student rentals can be more hands-on, requiring stricter lease agreements, regular inspections, and sometimes dealing with noise complaints or other issues.Seasonal Vacancy Risk: There’s a risk of vacancies during summer months unless you find tenants who stay year-round or offer summer sublets.Zoning and Regulations: Some college towns have specific zoning laws or regulations regarding student housing, so it’s crucial to be aware of these and ensure your property complies.Tips for Success:Proximity to Campus: Properties close to the university are more desirable and can charge higher rents.Furnishing: Consider offering furnished rentals as students often do not have their own furniture.Strong Lease Agreement: Have a robust lease agreement that includes clauses for damages, noise, and other common issues.Hire a Property Manager: If managing the property becomes too time-consuming, a local property manager with experience in student rentals can be a great asset.Overall, student rentals can be a profitable investment with the right management and location.