If you haven't already done so, you might want to read the Beginner's Guide to Investing (top of page under Learn) , and listen to some Podcasts.As to your question, there's still ways to use that property to make yourself money.

@Brandon Turner Read Brandon Turner's book on ultimate beginner's guide on real estate investing, it's FREE.

If you haven't already done so, read the Beginner's Guide to Investing (under the learn tab) along with some of the Podcasts, both will give you some great information.Also, fill out the keyword alerts, upper right (just under the yellow bar) with things like: buy and hold, New Orleans, etc.Have fun, good luck, see you on the forums.

And as Eric said, you'll need to contact an attorney to guide you, as what you are describing would need to be filed under Reg D with the SEC.

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.

Welcome to BP @Miyoung Smith Be sure to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing to start and utilize BP for all it has to offer.

Welcome to BP @Rodney Getsy Be sure to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing to start and utilize BP for all it has to offer.

Welcome to BP @Tommy Yost Be sure to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing to start and utilize BP for all it has to offer.

Been lurking for about a week and I've already read the Beginner's guide and started listening to podcasts.

Atlanta is a top market for student housing see below.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.