Yes you can approach the school about your idea to see if they are interested in leasing the property from you.

My approach to my rentals is “we are all one family” and it’s worked so far. 

Why is accepted the keys and the deposit a bad approach?

I'm just curious if we are approaching this the right way.

Depending on your approach and the unit size you can be anywhere between $2,000 and $8,000.

With the MFR market just being less liquid than SFR, what is an appraiser's approach to them to determine a value at market?

I've seen a lot of horror stories from investors that I have tried this approach. 

@Janet Hill, Just to approach your question from a less-technical perspective, my take as an investor is this:1031 is better for real estate investors like 99% of the time, whereas OZ funds are more beneficial for people selling stocks.

I would also rely on a proactive approach. 

Hi Joe,congratulations on your quickly approaching retirement from the police force (thank you for your service) and the clarity of your goals and what you want to do.