I may need some help to get the contract filled out correctly and to make it competitive.

If there isn't much competition I won't .

I am sure the seller doesn't know we know each other, and I don't think the developer knows I'm the competition.

They are competitively priced and their trainers are top notch.

This is key considering its looks as if your are in a very competitive market being in San Diego (if you are staying local).

CONSUMER DIRECT lending time and time again has proven to be the most competitive when it comes to turn times and pricing.

My two acquisitions this year have been off MLS, as there is too much competition and a good project gets bid up where much of the upside has been sucked out of it!

Unless you have those relationships already in place from being in investment banking or similar, you aren't going to access Fannie Mae directly.To answer your other question/comment, yes Fannie Mae loans are usually sometimes the most competitive when it comes to interest rates.  

I think you also want to know when/if the college allows non resisdence and whether the college works the students to death ( less partying) or if it is a "party school". then there are maturity angles such as - Grad students and professors vs 1st year students. also be sure to compare what the U gives the students in their residences and the cost so you know your competition.

Single family houses do not trade on cap rate, although some people buy them that way; they trade on competitive market analysis (i.e., what people paid for the house next door).