I don't know about NJ but that seems excessive to me.

I agree with both Len and John - the discussion about increasing time lived on campus is still happening within University administration and there seem to be more supporters than detractors.I would also add that there are at least two large-scale operations in the neighborhood, both having in excess of 400-600 units.

We dont rent by the room but I think if we did we have an excessive use clause for water that i pont out on move in that I would still keep.

Note if you chose to house hack with VA loan (I would recommend a detached duplex) your price of entry is likely less than investing in many OOS markets (probably all OOS RE that has historical appreciation far in excess of inflation).

Not at market value of course, your goal is to get it way under market value, hopefully in excess of 30% off.

But while there is a shortage of supply and sustained or excess demand, I would expect market conditions to remain in the seller's favour.As for the annual market cycle, yes, you're absolutely correct, while you can see the extra activity of 2016 in the lower chart, the double camel hump is clear for both years.

They were in the range of $4500 a month for houses in excess of $900,000, when houses in the $700,000 range were renting for $3800-4000/month.

Do you find that you run into problems with excessive maintenance due to the age of properties?

In a couple years, with a couple/few raises, you may be able to contribute the 5% and save for the RE purchase and be knowledgeable enough to complete a value add that returns in excess of 100% of the investment.Good luck

You really need a business or a job that pays extremely well to give you excess cash to invest at a faster clip than inflation.