As to the "IF" in that last statement - check out this thread on Norada Capital where they basically said, "Yeah, things are going so poorly that you aren't getting your money back any time soon" (very paraphrased):https://www.biggerpockets.com/forums/960/topics/1196567-nora...I'm a "own the property yourself" guy.  

Seems like this property is not really cash flowing on year 1 or 2 but there is a good potential for appreciation if I buy and hold.

I've found this pretty helpful as a starting point.

I reached out to the agent with a generous Seller Finance offer - above asking price and we would cover the agents commission.

A 4/3 could potentially rent for $3,500 - 4,000/room/semester.Clearly some other factors to consider, but it would be great to hear any insight from folks who may have done this in the past.

I can’t get my budget in order because this one builder won’t give me an estimate until I’m ready to apply for permits.

The second I’m getting ready to close on shortly and the appraisal came in right on point and we’re taking a leap of faith in the amount of money we have to put into it that down the road we will get that back out. This

Check out SDREIA run by Andrew Adam and others.

Essentially still making the Brrrr method work with this type of loan? 

I would be very happy to schedule a Zoom meeting and compensate you for your time spent mentoring me on this subject.Thanks,Kevin