However, around the campus there have been two major apartment complexes built which have been getting the attention of students.

wow, if you are doing that in your high priced area-- my hat is off you (where single families can be more than huge complexes in other places) enjoy BP 

However, I think it is important to standardize the definition of Turnkey:*Turnkey = A cash flowing asset, that has been acquired, renovated, tenant placed and vetted and all managed by (1) operator - all service are in house.You do not want to work with a piecemeal operator, they have no skin in the game, the loyalty is very short lived, plus you cannot place actual value on a property that has not been renovated yet, difficult and complex to finance.

It's critical to spend some time on the ground in the complex itself. 

I have been to Albany (a stretch to our investment criteria) but have not see many multifamily buildings / complexes available (30+ units) Would appreciate any insight on the area and introductions to brokers or whole sellers. 

I think the scenario you presented is substantially more complex than we define with the above (3) parameters.

The Gates Rubber campus was slated for a huge condo complex about 10 years ago.

I'd like to own an apartment complex at some point, but obviously I don't have the capital for such an investment yet.

It will be great to hear about your insights from both those very high priced markets (where condos can cost more than midwest apartment complexes!).....

It's traditionally a rougher area, but the Forum has been revitalized in recent years as a music venue and there are approved plans for an NFL stadium and complex there.