Congratulations and kudos on building your own house and reaping all the benefits that followed because of it with the equity gained

If you analyze properly, and buy based on that analysis, any "downturn" should impact you less than others, and in fact, set you up to be empowered during that "downturn".The Risk Controls you put in place, and follow, for the "upturns", should have the same control during a downturn.

I want to follow this method until I have at least 4 rental properties around the campus.

If you're gut is telling you to go one way or the other, follow it.

Conventional financing has very specific rules to follow and falsifying information on the application to get a better interest rate or to qualify and then subsequently closing on the property is a really big deal.There are loans out there that do not require seasoning of funds, would allow your friend the investor to not be on the loan (or be on the loan if he/she wants depending on credit), but it's not a conventional loan and the interest rates are not conventional interest rates.  

This spells difficulty as either wages will increase, further pushing up cost of living for everyone or these businesses will have to close or move. in my humble opinion.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

There should be a setting that shows what forums are being followed.

I have 2 choices: 1) Pony up the $3,000 out of MY pocket to get the job done (I don't need to bring this money to closing, but I do need to demonstrate to the HML lender that I have the funds to make it happen), or 2) Simply adjust my budget down by $3k.Let's say that the lender charges the following:3% origination fee ($65K *.03) = $1,950Appraisal Fee - $500 Pro-rated Interest (one month) - $380 Title Search / Title Insurance - $175 Pro-rated Property Ins. - $100 Pro-Rated Taxes - $400 Settlement Fees - $400 Recording Fees - $100 Wholesale fees (if applicable) - $500 Since "No Money Down" is not an option, I'll will need to pay these fees up-front in order to get my $65,000.

Even the banks are marketing properties on yard signs.The one benefit is it will push out the new investors with little patience for finding a deal.Deals can be had but you’ll have to work harder to find them.