Sounds as though you've given it lots of thought. My only question would be about income. I'm not a mortgage broker, but I would wonder if you'd qualify for the loan without a stable income. Although you must likely could rent it if it's close to a college campus, is there any way for you to prove it's a guaranteed income and that you can afford to maintain it?
If you have already qualified, then more power to ya. Real estate investments at such a young age?
Wish I'd have started when I was your age.