Have you thought about partnering with your parents to get that first multi-unit to live in? 

You do not need it to be deleaded unless the child is under 6 years of age based on Section 8 housing standards. 

Usually that excuse is that their ex wives screwed them over, an ex-business partner stole their equipment, they got locked up for child support etc.

If you have savings, you might be able to get one of your parents to co-sign a loan allowing you to buy a place and rent out the other rooms.

Obviously every kid wants to be back in school with their friends, but if there are no/fewer events, no sports, etc. then it will definitely be a decision a lot of students/parents will be making to not send their kids back to their college towns.

My parents are investors and they’ve agreed to let us use a property to obtain a HELOC.

The only problem is that my parents aren't paying a cent for my schooling and make too much for me to get financial aid.

@Chris MitkovskiDepending on what area you are in and the prices of homes in your area you could use your savings to get into a low priced home and then use your paycheck to fund a do it yourself rehab.This will work if your parents are willing to support you during this process. 

When they inherited it the property was occupied by a tenant his parents put in place.  

All,Long term follower of BP and gearing up to get my feet wet with my first rental property.Equity will most likely come from my parents and I (not a proportionate split).