Appreciate the commentary so far, but Diane - your cursory glance at the area is totally inaccurate.Hoping we can get back on track and have a factual conversation about strategies others have used to create additional exits when offers aren’t where they need to be.

BUT I also want to emphasize that it should be done carefully with a well thought out plan, and hopefully a plan with multiple exit strategies.  

What ate some good strategies that will allow me to have a tenant with lease in place first so I can utilize the 20/80 financing?

Risks include but not limited to buying a poor position ( no equity ), horrible property condition, no exit strategy, evicting occupants, getting foreclosed on by a senior MTG. 

I got into real estate to diversify my investment strategy.

The question now is to work with your tax advisor on developing a strategy to minimize those taxes, and put more money back in your pocket.

Anyone know of some good strategies for finding deals in college towns? 

Hey TJ,I have been executing the brrr strategy to reposition 1-4 unit properties in and around Pensacola for myself the last 2-3 years.  

I have a colleague who would be able to discuss strategy and next steps if you're interested.

Best thing you can do is find Whole Selling Real Estate books and start reading about their strategies.