Would you buy a property near a flourishing university with the intention of converting it into a student rental, if the general trend of property valuation is stagnant or slightly decreasing?

Im hoping to network with like minded people and make these intentions reality. 

You can draft an LOI "letter of intent" that discloses the major factors in the deal1) purchase price2) closing date3) initial deposit4) seller financing terms5) contingencies (inspection, survey)6) items in house (fridge, stove, BBQ etc)You should include a time frame of when an original offer will be drafted whether it is in 5 days from offer acceptance or when attorneys get involved.If you can find an attorney that can help you with no upfront costs then go that route but I wouldn't spend money on anything and find out they don't like the offer and you did all that for not. 

@Chad Dickenson, Two things - Like @Christopher Giannino said you will not be able to sell this as a 1031 because your intent is not to hold for productive use. 

If you move in to finish the work with the intent to sell it as soon as it's finished, not sure they'll call the loan on you.

But yes, I’m looking to house hack until I’m out of college with the intent of living rent free, with any extra cash flow as a positive.

If so, then send a letter a few months before renewal with the updated terms and given them an intent to renew deadline.  

If you had hired a licensed contractor yourself and the same thing happened you most likely would not be able to sue unless you could prove that the contractor was acting out of malice or intention to hurt your business but a recommendation or opinion on construction/repair/maintenance issues from a licensed contractor is very much within their scope even if it may be wrong but still follows code and other laws, it is within their scope and different contractors will have different opinions which is why they need to be licensed.  

Once you generate enough income through passive investments, you can then pivot from your full time job, if that was your intentions from the beginning. 

As @Wayne Brooks stated- a 1031 is doable within a few months, particularly if you can show that your intent was to use as a STR and not just a flip.