Here in London, stuff around the university is more costly but demands higher rent than the college.Having 5 people on a lease is also a challenge. 

I expect it to take a little bit to get rolling but I am in this for the long haul and look forward to the challenges and rewards that are in store for me.

Maybe also wedding receptions, although parking is a challenge.

I would greatly appreciate thoughts and opinions.3 1-bedroom units - rented at $600 each3 2-bedroom units - rented at $700 eachGross monthly income - $3,900Asking Price: $350,000Owner pays water - estimated at $240/monthMy biggest challenge was estimating insurance so I took a guess and put it at $250/month.

Save the receipts just in case you are challenged by the tenant in small claims court.  

The biggest challenge I run into is getting my customers approved for a construction loan.

I have ran numbers on multi family & know the pockets of the popular areas that are what I would consider C+ areas.

If you are open to multifamily, there are several properties in old louisville that meet your 1% rule, but those 100+ year old buildings bring with them other challenges to keep in mind.  

Again Sub TOO BAD BAD for seller if the seller cares at all about their credit and or  any equity they may have if they did a wrap.I know its popular on this site to promulgate this method of buying problem is too many financial sociopaths or wanna bee investors to down right crooks for a seller to take this RISK which you are now learning first hand

I really like seller financing and value play apartments (big ones, not the little ones popular on BP), but like any other strategy, you have to know what you're doing.