You might consider Niche or Specialized Housing like student housing.

Take a good look at student housing see below.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

My wife and I are a bit risk adverse and have some personal debt (student loans and car payments) we are also looking to manage.

Most newbies in real estate are getting better returns than the expert CFA (Chartered Financial Analyst which you find on wall street) on a yearly basis.I am a Finance student and this is what I study all day long. 

You can use student loans to help with or cover the down payment of a house for you to live in and can rent out the rooms to friends.

I read somewhere where someone used student loan money to buy a property.

I'd like to get into the multi-unit student market.I grew up in the Waynesboro/Staunton area and know them very well.

Naturally, the options available as a landlord will depend on location: in Thunder Bay or Sudbury you have the niche of student rentals; in a bustling resource town, you will have a high buy-in, but high-rent.  

Every professional was once a student...

I was wondering whether anyone has experience with student rentals.