You can get great cash-flow (In the right locations), use conventional loans (lower rates), have less to manage, and get in for a lower price.

For rates you can look at the off campus housing site for the university and get an idea.

The disadvantage is the rates will may be higher than a Freddie/Fannie-backed loan that you get in your name. 

But after going to the bank that I normally deal with, they said rates for investment property will be around 9%.

Different rate environment, but the rent-by-the-room is the quickest way to buy and save toward the second, third, fourth. 

Typically, when I'm buying, I do not pay for any of the closing costs, except for items which are pro-rated (I pay my share and the seller pays his) and I pay half of the title company's closing fee (which in Nevada, is about $300 per purchase I make).

Double check the 6.75% 30 year fixed rate.

At least check the rate of the 15. 

We also are seeing dovish FED meetings where we are being told that rates are going to drop by the end of the year.

The process was straightforward, rates and terms were flexible, and I completed my home renovations without any issues