If you want hands off but double digit returns in the San Antonio area I have real estate notes that I have created I can sell you.Rentals will make you old fast!

Commercial may be a better bet if it isn't listed commonly on the MLS.

If you can't quantify the risk you are taking than it is no better than bet.

And, as to investors running around trying to get investors or sellers to give non-recourse financing, if that deals blows up my bet is that you'll be in hot water if there are significant losses.

@Konrad Lightner  Your best bet is to find another experienced local investor and find out who they are using for financing...A few reasons why...If shopping by rates - rates are usually not locked in for longer the 30-days, and the shorter the length of the lock the better the interest rate...15-Days are most common...you actually pay more to have a 30-day lock. 

I bet it would.

I know New Brunswick well, best bet is to stick with 2+ Family rentals for New Brunswick and anything within walking distance to the school since not all students have cars. $455 a month is cutting it very tight per month, you have one incidental and your cash flow is gone. 

@Larry Turowski - I bet there's a way to find the median square foot that way just like natural comps. 

My goals are to net in the single digit millions. 

So limited service might seem like the best bet to try out first.I really hope you can land the kind of deal you want.