My apts are in Brooklyn, NYC and in good areas.A few of my buildings are near a school, Pratt Institute, that attracts a lot of Foreign students.Pratt is EXPENSIVE (think $30k to $50k per year with Dorm).I can't really do credit checks on foreign students.

A solid C class will attract individuals who have the same underwriting profile as an individual looking to move into a C class home, the only difference, for one reason or another, they do not want a SF home. 

That kind of natural appreciation makes it an attractive market to build new projects.

I use AirBNB, HA/VRBO, and booking.com--- AirBNB- 95% of my bookingsHomeaway-4 % of my bookings (i increase the price by 10-15% from airbnb and sometimes even 20% or more and still get an occasional booking)booking.com 1% but I increase price by 30-50% and still get an off booking which makes it worth the effort.AirBNB for me has been by far the most successful and attracts the most savvy guests who "get it". 

@Derek R Sacks3/1 is great in our area, and attract longer term tenants for sure.

The inventory for stuff in this market for MLS properties is definitely down, for things that would be attractive enough for us. 

Historic tax credits (state and federal) will be utilized to bring renovations to this building and retain/attract awesome tenants that appreciate the location, trails, bicycle facilities (onsite bicycle repair space).

In our experience, the commercial lending practices of the Big-5 (Schedule 1) banks have had no appetite for deals under $1M.While the point about commercial lending being based upon the business and not the individual, may be attractive for small properties (and essential for larger ones), commercial lending is more expensive (originating (legal, administrative) costs, lending rates (unless CHMC insured)), than residential.  

This was attractive since it's turn-key, comes completely furnished and I have a roomate moving with me along with the possibility of airbnb etc.

If cash flow is your goal, I don't find a 4.78% Cash on Cash very attractive especially for a deal that seems risky (disclaimer: I don't know this market and I don't particularly target "student housing."