My goal is to test this out under a sublet condition rather than to buy a property and attempt something like this without having gone through the trenches so to speak.

While you can prepare things on your side you shouldn't do anything outward until after closing. 

Ask questions, prepare for the worst.

Investors need to remember that odds are you are not the only client that realtor has, and time is money, which means their time will go to people that bring them money.When an investor I haven't worked with reaches out to me and asks for me to find them deals, a test I like to do is send 2 or 3 solid properties I find right off the MLS that seemingly meet their criteria and ask the investor for their thoughts on each. 90% of the time I get no response so these people weed themselves out and I don't have to waste my time with tire kickers.Ultimately, it's your job to narrow things down and find a few properties that stick out as potential leads.

Our goal is to build out Chgo over next 18 months, then test a new market in 2023, and go big in 2024 with franchise type opportunities across other markets. 

(I will test to see if I can get $540 per month more--it's likely but not certain.)Because this is a student market, I can be a bit more controlling than you can be with regular tenants. 

If not, be prepared to walk away.

I think I will pull the trigger on this property, but I want to be prepared.

I think I will pull the trigger on this property, but I want to be prepared.

There is no distance requirement or certain number of days you must utilize the property for your personal use but it has to pass the smell test in underwriting.