We have actually come to prefer renting to college students.

Utilize your VA  loan and purchase a multi-family property (preferably a tri/quad plex, anything more than that and you cannot use your VA loan) Live in the property for  at least 1 year (to satisfy VA requirements), while the other tenets pay your mortgage, but SAVE that money you would be paying towards the mortgage.  2.  

Some people need a temporary place to live for a few years, whether it be to repair their credit, going through a divorce, relocating for a job or they just outright prefer to rent over own. 

I prefer to amortize properties over 15yrs and try to stay less than 70% LTV.

@Paul Timmins thanks for the response, few things:1) thanks for the advice I will check out the REI groups for sure2) I will make sure to search for HUD homes, as I am open to purchasing distressed properties.3) When you say student housing, are you referring to a specific program with the university where you are some type of preferred vendor of some sort, or just renting to kids in general.?  

Personally, I would prefer 90 days because markets are always changing.

Finding something under 200k or less feels more comfortable when starting to me (preferably under 150k to be honest)Thanks 

With that being said, I'd prefer to build a business that can generate a consistent revenue well into the future.

You need a plan, preferred strategy and NUMBERS!!!

Come retirement, would you prefer the cash flow from 3 free and clear properties, or 15?