Whether it is the Landlord, or the Property Manager, the law dictates what happens to the money, both while it is in possession of the Landlord/Property Manager, and upon its return.  

@Robert Ellis I really like how it is a turnkey, being that I am still a full time student.

Based on what I see so far, I believe that they do have complete coaching and support system to make their students successful.  

A student loan or car loan with a specified end date is probably fine, especially if you are a parent willing to just pay it off yourself if problems arise later.

Once you get possession I imagine it would be a simple matter of asking the tenant to show you the lease.

Enrollments drop in a college town like mine, some of those teachers will be doing something else, it's hard enough justifying some of them now, but if students drop out due to lack of funding, you'll see an economics prof selling apples.

Un-redeemed Liens: After two years, a lien holder can begin proceedings in Superior Court to foreclose on the certificate in an effort to obtain title/possession of the property.

She is a college student and has a full time job.

You might consider Niche or Specialized Housing like student housing.

The location is about 5 blocks from a university so i'm thinking of renting out to students - or perhaps the school itself , they have bought up as much property as they can already.