A little of it is due to the university or large property owners trying to increase costs for the competition; a lot of it is due to problems in the past where someone would buy a 2-bed, 1-bath, 100-year-old house, and rent it out "as is" to 6 or 7 students.The local PMs should be familiar with the local regulations, but if you are also familiar with them, you can better judge what people tell you when they say certain renovations are required by code or whatever.

Now keep in mind I can buy 2-3 bed single families in my farm areas for 10-15k all day .

Give nothing more than the bed/bath count & rent price over the phone, and recommend setting up a showing of the property.

It has 3 beds 1 bath on each side 2200sqft total.

It's a 4 bed 2 bath site built home with an ARV in my opinion of probably 60 to 80000.

It turned out that she didn't want to meet me at 0700 to tour the property, so I fired her, toured the house the next morning at 0700 with an agent that didn't mind getting out of bed, and had the contract out by noon.  

@Cade Zerr One option: buy a 4-5 bed house and rent by the room to college students. 

Also I found a little 1 bed 1 bath house for sale in my home town for 45k and I was pretty interested in buying it for a rental, I’d only need 9k for a 20% down payment, can I use equity from my current rental to go towards a down payment on a new one?

My parents bought a house for me, my girlfriend, and her sister to live in with 3 bed 2 bath.

Purchase price: $144,000 Cash invested: $8,000 I purchased a 6 Bed 3 Bath split level home in which I rent the 3 rooms upstairs to traveling professionals via Airbnb and my husband and son live downstairs.The rent collected covers PITI and Utilities.