Non-warrantable condos are higher risk to lenders because if its all renters, owners are more likely to walk away in a crisis since its not their primary home.

A little about myself i'm a u.s army veteran currently attending college striving for a bachelors in either Business or Economics .

It sounds exciting and I bet many properties have already changed hands in preparation for the new economics.  

Nice to see another finance junkie (Economics &a Finance here).

There are deals out there, just run the numbers, do your due diligence on the area and look at the economics.  

It's more likely a symptom of the effects of the economic crash for older folks.

However, since it will be a buy and hold, I could probably weather the storm if there was a housing crisis.

check your state laws many states have implimented new LAWS that are quite robust as it relates to who can deal with a homeowner that is in crisis.. 

If I would you I will do due delgance first it looks like you have that's not typically happens in the area wit housing crisis area

Using raw data provided by Zillow.com, we created a series of charts to assist Tulsa-area single family property owners in understanding current rental trends in the Tulsa metro area.Impact of the 2007 housing crisis on the Tulsa rental marketThe Tulsa rental market was not as severely affected by the 2007-2008 housing crisis as other markets, but after the crisis, rents were somewhat stagnant until 2012, when a period of strong rent appreciation began.