Was a small single family in a college town approved for student housing. 

Thinking outside the box, I thought it might be interesting to learn how I could partner with someone who has cash, come to an agreement where I find the deal, they fund the purchase, and then I use the financing that I'm already pre-approved for to put a mortgage on the property and compensate my partner in some form. 

If I want to put in new floors, or bathroom, the HOA will make me jump through a lot of holes before they approve it?

After I hopefully get approved for funds then I can hopefully inspect and put offer in on the house I’m looking at and begin the BRRRR process?

The only thing I would suggest is ensure you can get pre-approved for a loan once the home is improved.

Is it wise to buy a lot of land (unrestricted/for mobile home use, etc), lease a land, lease a campsite?

I believe BYU changed the housing requirements, so single students can live anywhere, not just campus approved housing. 

If there is an out of the ordinary issue or larger than normal expense then the property manager contacts us for approval, but other than that they know our expectations and manage the property accordingly.

They took forever to find a qualified and approved vendor to come and look. 

However, our mortgage lender will not approve us using someone else’s money, in gift or borrowed form, for the down payment.