You might try looking at smaller schools or in the mid-west where prices tend to be more reasonable. 

I have come to believe that in order for each party to meet their respective objectives both sides must meet in the "reasonable" middle.

That interest rate is killing you before you refinance, and is almost single-handedly the reason you are negative cash flowing.

@Gustavo Gonzalez1 major reason (among others this isn't an all conclusive reason) everyone is talking about apartment investing via syndication as the best way to enter the multifamily  space, in addition to taking advantage of economies of scale is...., It's a team sport AND if you're just getting started (you stated "enter") you want a team that consist of good operators that have experience.    

Ultimately doing a timely and reasonable job of protecting tenants by clearing snow and salting the surface area is what matters most. 

You also may have difficult getting a zoning change if the property is not zoned for multifamily, because unless you are bringing business to the area most municipalities see no reason to upset the neighbors of an SFR neighborhood by allowing a variance.

Having a loan that high on only 1400/Mo is the reason it won’t cash flow.

@Kole KingslienGeneral rule:He should get reasonable w2 income as well as profit by way of dividends to minimize SE taxes.

Now the reason I'm looking into Baltimore, is because I grew up in Fort Washington Maryland, and my parents and brothers still live there, and I visit quite often. 

oh to add to my earlier post it doe state in texas REASONABLE HOURS which is 8am to 8pm I believe under Texas code