Our stories are a bit similar however I just didn't have $50k to invest in "real estate college" basically.

@J ScottWell would like to build an open floor plan 2 level home; figuring cost would close to 500k because of importing materials to island with possibility of selling between 750k to 1 million depending upon the closeness to the beach.

Is it a smart investment to purchase a rental property near a college (less than a mile away)?

There is much risk at that level with interest rates so low.Hope that helps a bit.Mike P.

My credit is in the bottom fair range (damn college) with hers in the upper fair range.

I'm currently in the process of graduating college by June so my time is limited right now.

I grew up in South Carolina in asmall town called Timmonsville.I am a college professor and the drummer in an 11-piece bandthat plays party dance music from the 60s, 70s, and 80s.My goals are to get back into the real estate game full hog and do it better this time :-).I would like to start with buy-and-flipping and later add buy -and- hold rentals.I am open to other techniques but wanna stick with one before movingto another.

@Jacob VillalobosThat's difficult to answer intelligently without knowing your marketing plan, skill level or strengths.

By all means if you decide to take this endeavor to the next level let us know.While James may say its not a way to go some investors do well (small to James standards $2m a yr) but large to most.

In a hot market, you get that many more people interested in your property which can drive up the price.I would say the level of staging and amount you want to spend on it depends on the price range you are in.