From a purely numbers standpoint, selling the condo may be the best option, but since we are talking commissions, should also mention if you sell you will likely pay 5% to the realtors (15K) plus may need to offer another 5K or so closing cost assistance to a potential buyer.If your condo is in a good location that will attract good tenants renting can be an option.

What defines 'PIG" is functional obsolescence, age, CapEx overhead due to the previous 2 items, class of tenant attracted to location and structure, etc.$30,000 in SFR space buys 1 type of thing

Looking at a commercial asset that has an existing CMBS loan with very attractive terms.

You opened up a can of worms by asking all the vanilla investors on Bigger Pockets to come and deflate your balloon but understand that there is a market for what you want to do and there are people who do it successfully,Just think of yourself as an acquisition manager but, instead of for one company you are doing it for numerous companies. 

I have numerous examples of this, as one student of mine invested $29K with a coaching "elite" program and got a kid in a cubicle.I have a BP blog here - http://www.biggerpockets.com/blogs/3-reiskills-and...Lot of free stuff there.Worst case scenario, I hope you get your license, learn CO regs, find a great RE broker that teaches (I like Keller Williams), and build a career in real estate.

Source of income is also protected class so be careful but my guess is a lot of students aren't going to be loaded at that point in life so you may set the bar high when screening for income levels and attract only top-earners to your rental.  

This has not been my experience with single family rentals which tend to attract higher income people as rents are higher.

This can be attractive to a seller because they can be protected via promissory note, personal guarantee, etc. 

Located in Port Orange FL just south of Daytona close to many attractions.

There are numerous of us in the greatest country ever who are millionaires next door.