I thought if you had a building close enough to a campus and rent cheap enough for college students to afford then there was a chance to have a consistent flow of revenue.

Have you thought about that avenue at all?

But my thoughts are will the hassle, time, money, spent on repairing give me any actual "gain" in the end?

I just got engaged with my girlfriend but we are not yet married. 

He thought he just had to have the county approve it at the end of construction...

Your thoughts on the town, the area, the people, the tenant pool, etc. would all be appreciated. 

@Jay Hinrichs Thanks for your thoughts and view.

I thought I did all the math (Federal capital gains, GA taxes) but panicked when I realized I'd likely have to pay CA capital gains on top of these?

Afterward, return on equity makes more sense.Greg, I appreciate your response thank you.From the ROE equation I get 11% to get a mortgage and 8% ROE to continue without a mortgage.Here are some further thoughts below, I'd appreciate your thoughts or any holes you can poke in the logic:1.

Thank you all for the well thought out responses.