@brent, its between whats called the "student getto" and the getto...8 blocks from a major college. it still has all the copper...4 furnaces, 4 water heaters, and sold in 06 for $89k and is a forclosure.

@Chris TorbertTo learn about the prohibited transaction rules, visit the following IRS links.https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactionshttps://www.irs.gov/retirement-plans/retirement-plan-investments-faqs

I am assuming a lot of those areas are rented out to college students attending UNCW, so what are some issues you have seen with those tenants?

Three bedrooms = three students, $500 a person. 

In student units we often use laminate rated at AC4 or AC5 (which is essentially commercial, high traffic flooring).You will also get better life out of a High Pressure Laminate with a high-density core.

@John ThedfordYou can expand from your personal investment/small business arena in stages, and see if and how much you'd be comfortable expandingAs a first step, you can take on passive investment partners on any loan you fund; usually the promoter (you) would get all the points, plus a small servicing fee, then each participant would get the remaining return pro rate with the capital invested.  

Yes I have student loans but my car is paid off.

I saw you mention student housing but within that at UD you are bound by city limits and rental permits.

In our area if you are furnished you can do winter student rentals and summer vacation rentals with the right house.  

I had a students mom call me asking me to pay.