Here in London, stuff around the university is more costly but demands higher rent than the college.Having 5 people on a lease is also a challenge. 

I expect it to take a little bit to get rolling but I am in this for the long haul and look forward to the challenges and rewards that are in store for me.

Maybe also wedding receptions, although parking is a challenge.

I would greatly appreciate thoughts and opinions.3 1-bedroom units - rented at $600 each3 2-bedroom units - rented at $700 eachGross monthly income - $3,900Asking Price: $350,000Owner pays water - estimated at $240/monthMy biggest challenge was estimating insurance so I took a guess and put it at $250/month.

Save the receipts just in case you are challenged by the tenant in small claims court.  

The biggest challenge I run into is getting my customers approved for a construction loan.

If you are open to multifamily, there are several properties in old louisville that meet your 1% rule, but those 100+ year old buildings bring with them other challenges to keep in mind.  

That means they can be sued, be made to pay legal bills defending the suit after their coverage is exhausted.

We hired an attorney to defend against this frivolous lawsuit and $4k in legal fees later, we won (it was ruled that the contract was clear), and we countered for legal fees.

It's really easy to cover up shoddy work and it's really challenging to find ones that are done right.