I know Lehigh is planning to reopen campus to students this fall despite the pandemic.

@Linda WeygantPretty sure what @Dominic Franco means is that the personal use unit falls under the purview of vacation rental treatment (IRC Sec 280A). 

Depending what part of the city your property is located you can target the local hospitals and med students, Universities with incoming fall students, etc.

I'm looking for a contractor and structural engineer in the Rexburg/Idaho Falls area who have experience working with this type of work.

Admittedly there will be a LOT of those deemed 'non-essential' who will suffer financially & fall back to Guv welfare, but there seems to be an uncanny resilience to financial doom for most.

It is in bad shape. it is not falling apart though. 

I believe it was in the fall, when you don't really need to cut grass too frequently, but either way, property failed. 

My son will be attending UCF this Fall as a freshman so we will begin looking for something for him next spring for him to move in and house hack. 

Last fall, these lenders told me they can refinance without a seasoning period if you have rental income:Oklahoma Educators Credit UnionBank of HydroThese lenders said they could lend after 6 months of seasoning:Arvest BankBank of OklahomaAllegiance Credit UnionNot sure how they feel about out of state investors, but it's always worth calling to find out and ask for additional recommendations.

Due to the current economy, we'll probably be waiting until late summer/early fall to start writing offers, but in the meantime I'd like to spend my time networking, researching target areas, and analyzing deals for practice.I understand that several investors will recommend buying locally first before expanding out of state, but I am of the mindset that (1) I do not wish to sink so much money into my first purchase, (2) I may be less risk averse than some other newbies, and (3) while no one wants to have a bad experience or investment, I'm willing to look at it as a learning experience instead of a total loss.