I would start getting quotes and compare the cost to what you could get for an increase in rent.Don't just assume because it is a college rental you have to have 2 baths for 3 bedrooms.

How does that compare to a subject-to deal?

From what I've seen recently, your only purpose is to be contentious. 

Also, factor in that your turnover will be very high compared to most markets given the student population and low-income area.  

But, outside of having potentially lower closing costs, think about if it is worth it when compared to getting convention financing for 10 properties.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

It appears it could be win win for both involved.I try not to because even as the strapping physically presentable whole gentleman I can tidy myself up to I have many mental and physical challenges that people incorrectly ignorantly judge me by so I tend to look past surface issues but discrimination has an important purpose and is how we stay alive.

Thats exactly how I remember the street I grew up on lol  A lot of variance but I think Trevor Baker has a chance for a great deal but should try to get as many comparables as possible first!  

Are they comparable? 

The difference is at this point there could be more penalties and fees, but usually they are minor in compared with the taxes due.