@Miranda YanezIf it’s second position you will be better suited to find an equity partner than a lender as most lenders do not like to be in 2nd position

Or would the better of the options be to secure private money at $50k for 3-6 months to fund the DP? 

My goal with that is to foster an environment where college students can better prepare themselves financially by improving their financial literacy and exposing them to different types of investments early on.

Even they are smaller deals the appreciation would be better and yes not all eggs in one basket. 

Know what makes you different or better than the other guys, and be able to explain that in an elevator pitch.3.

Much better than most.

If it's possible still, it would be better for the grandmother to keep possession of the house and have the ownership transfer upon her death due to the step-up in basis the house would get.

You will win in lightning speed.If that is not the case, you'll need to get more info and come back for better advice.

The earlier you start in your RE journey, the better off you will be in the future.

Lower price points can mean less debt + better cash flow.