Hey Josh,My advice would be to stay away from student housing-focused properties, and stick to something that can accomplish your daughter's housing goals for her time in college station and that you can get out of through a sale or continue to rent to other demographic than just students once she is gone.

So do banks do FHA loans on student housing properties?

I’m looking to develop and/or rehab a property to convert into student housing.

I’m looking to develop and/or rehab a property to convert into student housing.

Housing is so limited in DC, you can AirBnB, rent to students, nurses, or use a property management company to help you find a tenant.

I'm off campus so my tenants are nurses/grad students/etc. 

Is this a student rental?

Because we are poor college students and because I enjoy working with my hands, I plan on doing pretty much all the renovations for the houses we purchase by myself.

This Harvard market cycle article from 2016 has more detail around the cycle and timing of it. 

.- Utilities are split evenly among the students.- $5/month fee for cleaning supplies and toiletries.- Currently self managed and no maintenance costs were provided.The onsite management office can be utilized as an additional unit if an off-site property manager is used.