Makes a great Value add proposition.3. 

The only risk is the pain of moving slightly backwards. 

Also,I found land that is salable but undersize so I will need to obtain a zoning variance, Is it risky to buy it and try to get exception?

. - you need to know how to bring value to add to the property- even with proper PM you need to develop process and strategy otherwise it's the fastest way to lose moneyFor syndication, the risk is the following:- if you invest in wrong team/market , the realized return of investment is going nowhere and far from the projection, but at least this is the least risky way for newbie- Crowdfunding syndication generally has a higher risk than private deals syndication/fund.- post-covid times, many syndication failed to deliver their numbers.

Have yet to meet one conscientious landlord that's ever been sued for anything other than a relatively rare security deposit challenge where the dollars amounts are at most a nuisance issue.I appreciate the reply and realize the risk is low nonetheless I am interested in pursuing the LLC and holding company structure (or something similar if there is a better option). 

It is WAY less risky than stocks with better returns.

The risk is if you don’t use one of their approved appraisers you end up paying for it twice.

An umbrella policy will cover $1m and is inexpensive (because the risk is so low ..) 

My view is that having Fannie/Freddie (F/F) long term debt at these rates, with the present inflation risk, is a great investment.  

Additionally, I view renting to students almost in the same light as multifamily in the sense that since you have multiple families paying each month, eviction risk is reduced because you are not reliant on a single tenant to pay each month.