Is renting to fellow college students I meet in school a bad idea?

A friend of mine is attending Grad School there and was looking at 2 and 3 bedroom places.

Hey BP, I've been on the site for a couple years now along with reading literature on the side while also attending school.

I have found a hard money lender who would use the latter as collateral for a loan.The specifics:Hard money loan, cross collateralized, interest only for one year (16%)There are two houses I would like to purchase (ideally one at a time, but seller wants to get rid of both and move out of state) are in great neighborhood, school district, etc.

Throughout the course of the following school year, I kept up with people around the firm, especially my mentor that had gotten me the internship in the first place, and whose nephew was now playing on my lacrosse team.  

The Taunton group is myeasternmassreia.com and here is the link to plymouth:  http://www.meetup.com/House-Flipping-School-MeetUp...Hope you found it before now, it was last night.Don't limit yourself to the South Shore, because sometimes it's about the people you meet, not the location of the meeting.  

That brings me to opportunities like this:http://www.zillow.com/homedetails/1402-22nd-St-NE-...Edit for description if you dont want to click link: 3bed/2bath house in developed area outside of seattle nearby many schools. 88k asking. 

Agent is normally a sales person, and a broker is an additional amount of schooling that is more management or experienced.

I'm from San Jose, California but moved to Southern California for school.

In 2008 I had gone broke going to school out of state and getting a collection on my credit score, it suddenly became very difficult to get loans to go to school (keep in mind, I had no support from my parents and was living on my own).