I would appreciate any guidance regarding how to choose a suitable market to invest in! 

If you can’t prove or show that you had intentions of actually buying it (attempting to get a loan, etc) I’m not sure what would happen, but I would not want to be in that position.Whatever you end up choosing to do, keep in mind the sellers are often times struggling, or in distress and if you “can’t find a buyer” you could be putting them in a much worse position in life then they already are. 

Here is a good outline of important considerations in choosing a ROBS provider: https://www.nerdwallet.com/blog/finance/how-to-choose-the-right-robs-provider-when-financing-a-business/ 

People who choose not to use agents typically have a thorough understanding already or have a real estate lawyer draft or review the contracts.

The members who hang out in these forums include some of the most experienced and successful investors in the country, and they're choosing to spend their valuable time coaching newbies like us on how to improve our processes. 

The idea being to promote studying instead partying (potentially decreasing the damage/complaints on the property), incentivizing the tenant to stay throughout their college career (decreasing turnover/vacancy), and developing some additional motivation for a tenant to choose my property over another similar property. 

Many of the top PM companies, who can afford to be picky about their clients, may choose not to manage it at any price.In addition, I see from Rentometer that the median rent for a 2-bedroom in that area is $625:And those are Rentometer numbers, which can sometimes over-estimate by a significant amount. 

For investment purposes, nope, there are too many properties to choose from where I would not owe more than its worth. 

If you did not have a business tenant the space would be vacant.There are some businesses that own the business and real estate and choose to (sale leaseback) offer a lease with terms they want to a perspective investor buyer.

Choose your roommates wisely, and dont rent to friends.