Keep this in mind Jay,

With ALL the foreclosures happening now, there are buildings that are in trouble...you may be getting zapped with special assessments due to owners not paying dues.

Also, are you planning to rent immediately or live in it yourself? That will drastically affect your financing options.

There are many more questions you haven't asked that are likely bombs waiting to go off.

You can always ask me.

Hello Jay,

To answer your questions.

1. I understand your interested in an investement property for students. This is a great idea but many people are also in the market for investment properties around universities here in South Florida, because they know that it is easy to rent these properties. This tends to push the market price of these properties up.

Once in awhile a foreclosure around that price range happens to pop up around a university it usually becomes a bidding war and goes quickly. So if you find one, make sure to jump on it quickly but stay cautious of hidden surprises ( hoa fees, liens, defects in the property, etc)!

There are a several foreclosures in that price range, however, they are usually not located around universities here in South Florida. They tend to cater more toward family tenants. There are not much choices in properties in around that price range except for Pembroke Pines, Miramar, Sunrise, Miami Gardens, and Homestead. The reason is because these area's expierianced massive growth years earlier and now are the hardest hit when the bubble burst. The purchase price of a 2/2 is much higher in most other places.

You can expect $1000-1300 monthly in rental revenue.

Please feel free to contact me if you have any more questions!!