I can also warn you that at this price point, you will be addressing wear and tear issues more frequently and most likely addressing capex more frequently as well. 

Now the loan balance is around 60k and likely plus a couple of penalty charges. 

I'm surprised that more investors don't look into student housing like this where they can charge by the room and increase their profitability like you're talking about. 

A few things to note, my loan program does not  charge PMI if Im below 20% and they cover most closing costs so those are intentionally low.

I see in their supplied Proforma that Net Operating Income is $75,720 and their listed Cap Rate is 5.11%.When I do the formula for finding value (value = NOI/Cap Rate), I end up with $1,481,800.What this appears to tell me is that they are charging a $218,200 premium over the value of the property when figured against a Cap Rate of 5.11%, correct?

There are consumer protection laws in place which says they do have to release this information to a Trustee or the heirs, but they will play dumb so they can rack up the late charges prior to giving you the payoff amounts.

If you sell a house early in the year before the Tax Collector has even released an estimate of property taxes, how does the title company know how much to charge the seller for prorated taxes?

Which meet ups do you frequent? 

Some states do not charge income tax as long as you are out of state, but so if you live there.

You charge an assignment fee to allow the investor to step into your shoes in the original contract.