Should I Buy in a rural Area?

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I've started searching for my first investment property, but my dilemma is I live in a rural area (<3,500). I would love to invest in a student rental, but the surrounding college towns are struggling because of the population decrease in 18y/o in the state. So should I: 1. Invest anyways, and hope the schools continue to stay open. 2. Invest in single families, and hope I can find renters. Or do rent to own options? 3. Invest 2 hours away in a city with a university, but there is more competition there for multi-families 4. I also have the option of investing 4 hours south (in a different state) where my family lives and has investment properties. I would love to invest close to home for my first investment, but as you can see, that may not be possible. Any advice would be great! -Kayla