According to the Federal Housing Finance Agency, as of July 2015 we had already reached the levels of November 2006 (pre housing crisis,) with the average nationwide house price of $240,000.

The meeting went fine and they pre-approved my plan. 

Either way, this deal would involve the potential investor wanting to buy & hold.My question is, can this be done while the property is in foreclosure or only pre-foreclosure?

My wife and I also own a small business that is our main focus, so for now I'm just looking to diversify and get the ball rolling with turn-key.  

You have to learn when to let things roll and when to be aggressive. 

By focusing on the student market, I'll have the ability to rent entire units to pre-determined groups, or rent on a per room basis with individual students.  

I'd like to roll the money from that deal into my own apartment deal using a 1031 exchange however I have some concerns and wanted some feedback. 

I suppose there could be a pre-payment penalty for us but still, w/ terms like that, it's a no brainer.

You may be able to get it rolled into the loan, and escrowed to be released as improvements are made.

Did see some reviews where the pre approval took a very long time which I dont mind.