Vacancy is a major issue as well...and many properties have been on the market for over a year...not a good sign when we are towards the top of the market right now.I have forced myself to not even tempt myself by looking at the properties in these areas. 

@Charlie Moore income equal to 3x rentNo evictionsNo violent feloniesNo major credit discrepancies

Most major university cities are great places to invest but it's a niche business. 

I've done it a few times but it's only been from doing major rehab of multifamily properties that cashflow well.

I am computer science major.

@Vivek ShahBack in 2017, Fannie Mae quietly announced a change that allows transfers to LLCs under certain conditions:"The mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence)."

It's in a major area, but the PMs up there are horrible.

I think that the percentages for CapEx and maintenance should be little lower for a condo v.s. a single family home since the HOA will cover some expenses and there won't be any major repairs needed i.e. roof.

This is the majority of the bookkeeping  -banks love it and you can do a P&L per class/property  Administration/overhead expenses can be prorated based on total income or time.

Being forced to have your rents at 20-25% above market just to break even is a major red flag.