A college rental in a just okay area is going to require a fair amount of attention.

We started out getting rental properties when our oldest son was about to attend college. 

. $2000Reserve account $7500The property is in a small town in Iowa near a decent sized college town. 

I may be wrong, but this sounds more like a job with many moving parts; this model is more successful  with college students who are younger.I’m not suggesting it won’t work, but it won’t be easy as it looks in theory.To your success!

We are now looking out of state because my brother went off to college last year in Texas and we were talking about him signing a new lease at his apartment complex with his roommates.

I'm considering near Richmond (airport accessible), Charlottesville, Staunton, Harrisonburg (college town) or Ashburn (in Northern Virginia, airport accessible) due to family living in those areas and who could potentially visit the property if needed.

I am currently attending college studying accounting and entrepreneurship.

On top of that, over 7 million people are 90 days (or more) late on car payments, college debt is exploding, and people are doing cash-out refinances like crazy. 

We’re targeting college town single family properties to start out.

You could look into finding properties with large bedrooms and try renting out the rooms to college students if you find that you cannot afford a multi in the area also.