Working my *** off is not an issue.

@Mark Manship Insurance will be the biggest issue.

I would be very scared of the permit issue also.

There is an affordability issue here at the high end, but tremendous pressure on the low end (which makes it hard to find good rentals). 3.

If so, you can get title insurance for less than $200 that would find any issues and protect you moving forward. 

But if you are buying in growth markets, it shouldn't be too drastic of an issue. 

My background in real estate/rehabs has been full gut job remodeling houses that my parents have lived in as well as remodeling my current home, at one point I was a mortgage loan originator (helps knowing how mortgages/financing works), and I'm currently in the process of getting my home inspection certification to help identify issues for my own benefit was well as generate additional income.  

And you also (if you're going to mix students with families) have to go beyond thinking about just noise issues but think through parking situations.  

@Shane Row If there is a tenant in place at the time you close, the lender will count 75% of the rental income so DTI may not be an issue.

I hope one of those memories is not having to run out to the gas station in the middle of the night because one of their children had GI issues and ran out of TP.