Hi Boston, Your asking a question to Realtors, so naturally we'd say BuY Buy Buy.
Now we will write as an educated,knowledgable,and updated person and say to you.
Buying is always best in a down market.
You if careful, and decisive in your choice can stand to make not only income, but tax returns as well. If you buy near your medical school and perhaps buy either a 1 bedroom condo or a small 2 family something managable and you have some knowledge about repairs and maintence of a home, then YES you can make money in different ways.
1. you can if you bought a 2family rent one out and lower you mortgage payment
2. after you graduate you can continue to rent it out if the 2fam then 2 rent checks every month paying for your investment or if you bought say a 1 bedroom condo , and rented it out you'd help pay the mortgage and earn some equity.
After 3 yrs the market will be up and if you purchased something wisely and when your ready to sell you clean it out, paint it, and if needed carpet/flooring and some upgraded lighting,and if needed new kitchen appliances you'll make out quite nicely.
All the Best
Dave & Lisa