I too am beginning my REI journey and have found BP to be an excellent source of information and networking opportunities.

students deserve nice places to live. we aren't trying to be slumlords but i do realize that students probably have slightly lower expectations than other types of tenants, so i feel we wont need to break the bank in the level of finishing details like we did on our own home but we will provide housing that is clean and safe and attractive. also thinking we can use some creative materials and methods to make the units party-proof. maybe we get lucky and find some long term professors or grad students and don't have to do annual turnover on every unit. even so, i budgeted 8% for property management after watching david greene's webinar yesterday.the heloc would allow for an easy down payment and a nice buffer for rehab, and i have 750+ credit score and good wage earning history, so i think a conventional loan should not be a problem to obtain. a cash out refi might be an option on the horizon if we decide to really crank a proper rehab but the units (from the pictures i saw) are livable as-is.should i be more specific here on the address/market to get better help?

Hoping it will not be an issue. 

If you do not need the money, there seems to be an upside, and you do not have a place .... yet to put the earnings from the sale.

It would certainly be an interesting investor avatar.

My goal is to be an investor-friendly realtor.

It seemed to be an adolescent female who was always wearing white. 

You will have to disclose whatever you have done either way and it goes over much better when you can say it was permitted and inspected as done properly.Best of luck, I hope it turns out to be an easy fix.

There used to be an air conditioner in the front window, junk in front of the house and over the lawn, and at one point people screaming at each other in the yard. 

I’d love to take you out for lunch/coffee or even a phone call so please hit me back if interested.