If you have a process for attracting leads that's a good start.

It's packed into that neighborhood pretty tightly, so I don't think it's an especially attractive location.I wonder whether you could turn it into condos.

@Karl Denton a slowing market may not be the best time to invest in a questionable area.Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

I think side by sides are much more attractive.

I have one young lady looking to get started wholesaling meeting me this week, who else is game?

The 9% interest is attractive and I like not having to deal with renters, pay prop tax and insurance.

For example, when I see breweries and vegetarian restaurants opening on not so sexy neighborhoods, I look for the distressed homes in that area to pass on to my investors because I am getting great deals and these restaurants are attracting buyers to the area. 

The reason for this is that they may not necessarily be able to get a mortgage at a bank(they already have 10 conventional loans and are maxed out and the portfolio loan terms aren't attractive to them).With seller financing - you don't receive all the money upfront.

Whether that be an ad on Craigslist, Rent-2-Own signs  (yes spelled that way as it conveys better than Rent-to-own) that have your number on it so you can get them to your open house.There are other methods but the key thing here is that you attract these type of folks to the property. 

You have one long-term tenant, presumably not a student, so at 2 miles from campus the property must attract more than just students.