re: Buying investment properties...

what's the cap rate strip centers trading for in those area's? with national tenants.

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I think any real estate investment in a college area is a bad idea. No way would I invest long term in Tuscaloosa.

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I think it depends on a lot if you can get enough property's to assemble plot that can be Multi-family. Just owning a bunch of crap rent houses in random spots would be slow go imo and having to maintain them a pain. The biggest money being made around campus here is site assemblers as i call them buying up a block and then flipping it to a large multi-family developer. this takes time though.