In this fund, the sponsor clearly defines a "box" that the properties must fit into. 

How does the CRA define active and passive corporation?

It can work with a handy tenant so long as you can clearly define what success looks like. 

Courtney can you define (good lease commercial agent)?

I'm 3 BRRRR's and want to be as helpful as possible.Before you do anything, get pre qualified by your cash out Refi lender and define YOUR criteria.

These are the things I would consider when making this decision - define your ultimate goal, then only say yes to the things that move you definitively toward that goal.

First define what metrics define a "good deal" for you. 

Originally posted by @Gino Cook:yes that is how it would be my buddy would give me the proceeds check after the deal ..ok so your saying nothing shady with that and that's what I wanted to hear thanks Gino,Since someone threw doubt back into the equation for you let me make a couple points on mortgage fraud so you and others understand it better.Mortgage Fraud as defined by the FBI is: "a crime characterized by some type of material misstatement, misrepresentation, or omission in relation to a mortgage loan which is then relied upon by a lender.

While I have Some defined I certainly don’t know or have everything dialed in.

Proximity to campus and dependency on the academic schedule are the conundrum of student housing and are very challenging to reconcile...I'm talking from little experience...but a painful one...just missed the year with my first student SFH despite all my effort to get it ready on time...had accepted offer in January...closed beginning of March...then had very hard time finding a contractor (had about 8 bid on the project)...all were very busy and most didn't even bother to follow up with bids...bottom line...be prepared to hold the place empty for months.From your post it seem you plan to invest locally which does give you a great advantage (I'm 3 hrs away from my houses).Couple of thoughts:In markets where the students want to walk to campus it is very hard to strike on both timing and proximity...you need to be prepare to get places as they become available as inventory is very limited...in my market the students practically don't cross certain streets...very defined geographic area and you have to be in it (this is market specific so you need to map your market).As Tim Simmons said the most important thing is to know your market.