Still, seller financing is usually faster and easier to get than a government-backed mortgage—if the seller is willing and able to provide it.And, while most owner financing requires some form of background or credit check, it can help otherwise unqualified borrowers achieve homeownership.

Right now have makeshift wood column providing additional supportElectrical - replace Federal Pacific equipment, replace fuse panels with circuit breaker panels, remove or disable any knob and tube wiringmove air conditioner so can inspect fire escapeschimney -Have a qualified chimney contractor service or repair the chimney(s) as required to assure long term function and safetyOld Roof - have roof contractor inspect and find out cost to replace as its oldSome floor tile in common halls is older 9 inch floor tile of a type commonly containing asbestos - do I need to be concerned?

@Benjamin Kelley If your student loans are federal loans you have a lot of options if you end up in a bad situation for some unforeseen reason.

Jonathan:Fortunately your family lives in a sane country where the government doesn't interfere incessantly in the business of loaning money to purchase properties.

And when you graduate and want to move, a house can take a while to sell.Also, when you apply for a mortgage, you get better rates as an owner occupant, and there's plenty of government incentives/grants for first time home buyers.

Do the government rebates apply to investment properties also?

At least when I contacted them most were looking to fund 65% of the purchase price and leave the 35% and rehab on my shoulders.You could go the Government way.

It may be tough to do with government-backed underwriting requirements, but closing in a week using private or HM lending is certainly possible.

even if it's not the best deal you ever make, you will at least be paying towards equity on a home instead of deepening the pockets of a college..also, i went to a small private college outside of the city, where you could buy a cheap house a mile away...larger universities will be a tougher purchase..depends on where your daughter chooses to go...something else to think about for college rentals, however..i have had people want to rent my house but couldn't bc their government aid only applied to on campus housing..not sure if this is everywhere or certain grants or what..just something to be aware of that everybody won't be able to live off campus

They would have to come up with cash or some other financing that is not backed by the government.