Plopped down in a very tiny Mexican town outside Fresno, CA, is a beautiful subsidized senior apartment complex. 

Before:After:Here is the tiny kitchenLiving roomThis is using a 30 year mortgage, so equity build up is not very much.

It's a tiny thing with a wash tub in one side, and a spinner on the other.http://www.amazon.com/Panda-Compact-Portable-Washi...I use double lint socks over the drain hose, and two other mesh screens after the lint socks, to catch all of the lint. 

And by that, I'd say we ran about $75 under market, but our apts were tiny and bare bones. 

Quality over quantity, any day! 

You won't have to work until you die, unless you want to, or can't downsize your lifestyle.An example: I live in a very tiny studio apt, but it's very well-managed. 

Shoot, if you could get a couple multi-family units, or a large building and convert it into tiny studios...The building I rented was a WW II conversion.

I don't just look at credit scores, I look at how much revolving debt they have and the quantity. 

Anish ToliaBeing in the East we see much older houses in greater quantities. 

But, it is not against the law to only advertise at a grad school.Anyway,  even if you have a huge house you want to rent out, with a bunch of different roommates, (mine were tiny studios), if you can rent to a house full of law students, and I've heard the same is true for med students, you will have minimum problems.Good luck!