I am looking at a property in a college town for my son to live in and have roomates cover the mortgage.

Even on first glance this is obvious.So I'm spreading the net further, not so much that I'm considering an "out of towner" strategy (valid though that may be), but enough that I need to identify a set of solid objective criteria to help me to determine which neighborhood(s) on which to focus.

For one I dont want to move out of the city because I love my sons current school.

BTW, my son is a 21 year old Army E-5 that's headed for Pearl Harbor soon to live the next few years with his wife (and soon with a son also).

Hello Jeffrey,(REI) covers a broad area and the market(s) only limited by your imagination and abilities.

Some states do NOT allow that you get ownership of a house in preforeclosure prior to you paying off the loan(s) on it.

We have recently relocated to the Fort Worth area in Texas to be close to our grandson (15 months), daughter, and son-in-law.  

His sons have been in and out of the house, leaving the house vacant at times and occupied at other times.

I have frriends who have done this and they treated it as a rental to all the tenants uncluding thier sons.

@Rick S. Only