My town has a Division 2 University that brings in about 8K students per semester.

My initial thought with buying this condo was that I could house hack it while in graduate school and rent it easily (it's located near University of Chicago) once I moved away.

@Joel Unick, it's 5-6 blocks west of Drake University right near University.Des Moines is small, so if you commit to watching the active, pending, and sales data from zillow or realtor dot com, you will be able to see the areas that are turning.Also if you find a realtor that will share with you the trends and data for the area (I'm happy to do this for you, just let me know) you can find how many cash buyers in different areas of the city. 

I am currently a Junior at Texas A&M University.

After that, any excess money can go into real estate/index funds/ indexed universal life insurance. 

I have a pretty straightforward question.. if we have a personal relationship with an investor and they mention they have someone who'd probably be interested and is accredited, do we still need a relationship with the accredited investor?

It is a 36 unit multi family property, the property is just next to the University camps.

(sorry, super cheesy joke)If you want to invest, and not spend, you can become a private lender, invest as an LP in a syndication(may need to be an accredited investor). 

I live in Manhattan, KS and we are home to ~20,000 students that attend Kansas State University each year.

Details:227k asking price4bd, 2br 44k down payment, $1046 per month (includes mortgage, property tax, insurance and mortgage insurance)2 units and each unit has 2 bedrooms and 1 bathroom, rent per unit is 1100k per month (i think this is the average rent for 2 bd 1 br near st louis university, please correct me if i'm wrong)NOI: Annual rental income $26,400 (1100*2*12) - Vacancy loss $1320 (28,800*.05) - Operating Expenses $4800 (400*12) - property management fee 2640 (26,400*.1) = 17,640Cap rate: $17,640 NOI/$227,000 Property Value = 7.7% Cap RateIs this feasible or decent?