I would err towards Waterford, Mystic, Ledyard or Pawcatuk and outside of New London- unless you get something near the colleges. 

When we bought the property, we paid $175k and had an appraisal based on an ARV of $265k, which we are on schedule for.  

I saved that much because since I graduated college I have made a house payment in an investment account.  

I am currently a college student with about 5k to my name.

If I was 30 years younger and doing this from scratch again, when I was in college I would have bought a duplex/triplex that needed work with an FHA (or my VA loan as a vet), lived in the crappiest unit, fixed and rented the other 1/2 units out, then fixed my unit, moved into my van and rented my unit, then refinanced and did it again.

College students, families with children and good schools, up and coming areas, suburbs? 

It is over budget and way behind on schedule.

I am a sophomore in college and hoping to buy my first house soon, so I can live with some friends junior and senior year near campus.

If looked pretty good up until I attempted to schedule an appointment with them and now they are simply not answering phone calls, text or anything?

When you go to college, you pay to go to learn from a professor that claims to be able to help you make all the money you've ever dreamed of, earning with the top in your chosen profession.