After conversations with these people you'll be even farther along and have learned quite a bit from the actionable steps you have taken.

She has been able to defer the government loans, but the private loan payments (that I co-signed) run her about $850/mo.

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Private message me for details about the deal if you're interested.

Those with experience in these rentals, what type of colleges (large\small, private vs public) and/or towns have you had the best experience?

I have already been in talks with a lender on a construction loan, but my question is: How do you pull that cash back out to pay back the $300K private money?

(i'll be securing the financing of it against my current portfolio with the assistance of a private lending partner. 

The listing agent is arranging the financing through a private lender so it's a fast closing. 

I’m thinking lunch and conversation.

Before we got prequalified I had a long conversation with our lender about our plan, which is basically to follow the BRRRR method.