I check on real estate taxes, local taxes, insurance cost, etc.You also want to do your due diligence to verify property conditions, easements, neighborhood, and other details about the properties. 

For your property websites, weather if its a direct booking site or not, what website builders are you using?

Sell After RenovatingRenovate and sell the property before you leave to potentially make a lump sum profit, especially if market conditions are likely to improve.5.

I’ll double-check with the lender to make sure there aren’t any unexpected conditions tied to it.

The property location, the condition, and the type of students that the property attracts would all go into that.

He says it's in good condition, could use AC and a heater, maybe some new siding but otherwise in good condition.He has a renter there paying $1600 month to month who wants to stay but has no long term lease. 

But the property as a whole was in much worse condition than expected, so I don't think the numbers would work out for me.

Quote from @Grayson Grzybowski: @Crystal SmithThank you for taking the time to provide your insight on the questions I have asked.For your introductory statement, I understand this is how debt should be used. 1) I have already went out of my way to ask for as high of a limit as I can just to have it on stand by. 2) I am trying to build value into our home to increase the equity faster so I can utilize it as leverage in time. 3) I have already reached out to a lot of different investors and have their terms & conditions at hand. 

Then figure out a standard of living your comfortable with and that will tell you weather or not single family or multifamily is the correct route for you.

Without knowing the condition of the property, that is the main thing.