I am not currently in a position to use my own credit to acquire funds to start (currently have too much consumer debt, along with student loans and building our own home to be completed in June), so I am not sure exactly what type of business plan to establish.

We are currently paying upwards of $700 a month towards student loan debts.

If you buy SF there are laws in place that make it extremely difficult to rent to students.

Please be advised that tonight's meeting has been cancelled due to lack of participation.  

Read and participate in threads here on BP.  

I hope to buy a multifamily unit and rent it out to college students like myself.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookYou might consider Niche or Specialized Housing like student housing.

Run it like you stole it.Cash flow it out with recovery housing or student housing, and don't spend a cent on repairs.If 1st won't negotiate, buy it back at auction after the kids and the recovery house people have roughed it up.

The MFH market can be quite competitive out that way with the high demand from housing brought on by students.

I started on BP when I was about your age and gained a ton of value from just reading everything I could find and participating in the forums.Reach out if you got any other questions.