My current thinking is to purchase a 2-3 bed home in the South Side flats/slopes to rent out to students and young professionals.

The medical profession should be the source of all the private $ you will need.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

this is really a question of common sense - so you friend has to see what the market will pay - supply and demand - and there are often rent laws in Germany so he should check that out - he would probably do better renting thru an agent (Makler) they have just made rules on how much a Makler can charge as well - he might also list it on Craigslist if it is in an urban area or a place of student demand and he has someone to handle the on site things. 

Here is my opinion so far:US:- 30yr fixed principle repayment mortgage, so actually build equity assuming 0 appreciation- rates around 4.2% right now (also get a small discount through work)- first 4 properties 20% down, then 25%- can deduct all expenses plus depreciation- I have a large liability in USD (student loan) so would be good to have a USD cash flow and avoid FX riskUK:- interest only mortgages with 3-5% fixed rates for 3-5 years...then need to refinance (which can be expensive and unpredictable...also interest only so relying on appreciation)- however, interest only improves the cash flow significantly as the mortgage amounts are tiny- 25%+ down- slightly less tax friendly, it seems- much less space, higher population density and growth...points to higher average appreciation potentialDoes anyone have any thoughts?

Congrats on graduation, I am  student myself  (Business Admin) and am looking forward to that day.

Your profession should be the source of all the private money you will need.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

One of them is rented on a 2-year lease (government employee, the Crown pays), the others are all good potential long term tenants ... with the exception of the Student house which is a annual lease with the potential to renew (which happens 50% of the time).

I have been in school for the last four years and thought that my high student debt (100k+) and low income would prevent any form of conventional financing.      

Take a good look at student housing see below.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

Any advice for a college students looking to get into real estate,(buying and holding)  beside find a mentor or get educated?