They were a little young, but both were college-educated, well-spoken and very confident they would pass the background and income verification check.  

I am a small-time landlord with 6 SFH rentals, all of which were purchased to be rentals (retirement income - I spend an inordinate time worrying about retirement lately) and all have been rented since purchase.  

The good part of this is that it's a pretty good job, so it will allow me to have a fair income/cash flow to put towards investing.Otherwise, I'm a quick learner and fairly good with finances but I'm not bringing anything to the table in terms of knowledge about construction/building/renting/etc. 

My tuition will be taken care of, but that leaves me with nothing left over for living expenses, so I'm hoping to have continual income from a place I'm familiar with (in this case the city I grew up in) while being otherwise able to focus on my studies.

I recommend having a reserve of at least 1 year of you current income plus any marketing budget you may want.

If you have to wait a year for the higher income to hit your tax returns, that works too... but you're also going to want your rehab to go against the income, so your taxes won't look that good.

This is exciting because I've been thinking about the same thing but more for eco-friendly, modern dwellings for lower income families.

Potential income would put me at ~$-900 negative cash flow.  

Now that I've got an income, I want to find a way to make my money (at least what's left after student loans) work for me and start investing in assets.

Hey BP, been very curious about my debt to income in regards to purchasing my third property.