It depends on the documents & terms used in the deal.If you need a simple lease option document with a contingency clause, just message me.It will let you back out if you don't find a buyer, without paying anything out of pocket.

But succeeding with student rentals depends on how many rental units are available, compared to the amount of students there are. 

@Albert Ng ...Depends on type of transaction. 

It is hit and miss depending on your goal and what you are focused on already.

Up to 80% ltv depending on the market, 30 year am, potentially an I/o component again depending on the deal.

A half acre in town should be pretty easy to sell, depending on what part of town.

Adam Scheetz I think most of these are doable depending on where you’re buying.

My initial thoughts are that you bought too high, have underestimated your renovation budget and, certainly, time line and, depending on how much you are refinancing, it's not going to give you much of a return on your money.

The extent of the rehab project is dependent on many factor, including (but not limited to): Deferred maintenanceAdditional rehab costs to capture increase in rentsTarget demographicsNeighborhood dynamics (including comps)How much repairs and maintenance a building will even allow?

You don't want a year lease because people may move in and not get along with someone.How much you can charge depends on what you provide, your neighborhood, house amenities, neighborhood amenities, etc.