We also expanding into additional markets as we determine the co-living demand in a market to be close to saturated.

A property just popped up FINALLY close to campus, would be perfect for our junior (and OUR FRESHMAN who can live off campus May 2025).BOTH sides of the duplex are leased until May 2025. 

What type of residents live in it currently? 

This tenant has lived in the home for 10 years, and pays a VERY low amount in their monthly rent. 

But additionally they said 40 of that 79 have not been paying.

I live and invest in Idaho and there are a couple laws on the books that make it landlord friendly and keep me investing here;-HOAs may not regulate property use anywhere in the state.

There will always be more risk with something vacant, you're probably going to be counting on one person as your "eyes" on the project (or at least for "security", overall)- and the more hands on/ closer they live / able to visit site frequently, the better. whether that is your gc, a project or property manager, or your handyman/even yard maintenance guy, neighboring teenager, or whoever- this person is key

Bathrooms, toilet rooms, and laundry rooms shall have a ceiling height of not less than 6'-8" above the finished floor"Additionally, in th following paragraph 1207.2.1; it also notes an exception for similar residential conditions which allows "Furred Ceilings" (Ductwork, Structural Beams, etc) to be permitted as low as 6'-4".In Short; the Diagram you posted indicates the correct conditions that would apply to your residential basement. 

Living in Raleigh, the reputation of those areas isn't always the best.

Really just reaffirming what has been said here.In addition to managing 65+ units mostly in the Tampa area I am a broker that buys and sells STR.