Check your home insurance plan to make sure it's good enough for the time when no one is there, and think about getting a property manager if you have concerns about looking after your place during your absence.

Get a first position line of credit larger than what you plan on using (Ridge Lending has the All in One that would be perfect for this strategy).

Okay, just to counter the perspective; if you are buying as an investment did you plan to take on a job? 

I was on the 6 month payment plan last year when it launched and was smart to do that and only lost $500.

Buy and hold real estate investing is a long-term plan to building wealth.

When do you plan to start a new lease? 

All things to consider. 5) how do you plan on managing the property?

This property came with a detached garage which I plan to convert to a studio home I can also rent.

Also, have a plan in place for handling noise complaints or other disputes that may arise among tenants.Lastly, make sure to familiarize yourself with local rental laws and regulations, as they may vary when renting to college students.

All things to consider. 5) how do you plan on managing the property?