Second, identify the type of tenant you'd like to rent to that will be commensurate to that life (ex. responsible graduate students). 

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

Law students and lawyers have to pick it up along the way.

We converted the 2 San Diego units to student housing in off season/school year and STRs in the summer.  

In hind sight it would have made a great rooming house for college students or otherwise!

My plan is to rent to students to try and get top dollar for rent.

Then our students were having a crazy hard time with the current leading website provider and I had to come in and fix a bunch of crap that was wrong with said internet hosting and template provider so much so that they stopped offering our students support due to "custom code" on our websites.So I said fine.

We were able to do our first 100+ unit deal as LEAD sponsors (meaning we found, underwrote, and negotiated to close the deal) with Mark's help since he partners with students.

Home is worth $330kThe Second is a Townhome in a student housing development called The Timbers in Tallahassee.Cashflows ~ $1400 monthlyNo Mortgage on this.

Right before a downturn gurus always come out of the woodwork acting like they have this novel idea only to see their students lose all their money.