Curious how this would be cost effective. The BAH rate for a 26 yr. Old O-3 stationed at CSprings is @20k a year.
If you become a member with a hotel rewards program, such as Marriott, Holiday Inn, Hampton etc you would get reward points and free rooms every few times. On top of that if you used a credit card with reward points you can get them that way.
My brother travels a lot and has not paid for rooms for years.. He either uses his his hotel reward points or his credit card rewards Every chain now has long term/residence inns in case you want a condo style living.
I can see doing it as a tax shelter, because you could rent it out for graduation the first 3 years and make back a lot of the annual mtg in that week, add in the tax bennies, and hope to sell it at a profit in 4 years at a profit and you will be better off, but renting a furnished apartment makes no financial sense if you open up reward accounts. Again even buying is a lot of IFs (I was a realtor for 8 years). If the mtg rates stay the same, if gas prices don't go up, if the student loan bubble doesn't burst, also if they don't force you to take an investment loan. Than add in the cost for homeowners insurance, the cost for maintenance repairs, the cost for property management, the cost for home owner warrantee, and if in an HOA, the cost for the HOA. OBTW, in VA if more than 40% of condos in the development are classified as renters mtg brokers can refuse to loan to any buyer. That is another what IF to put on your list,
Me personally, I personally would sign up with Marriott and open an AMEX account. I am a landlord for a home in NC, and we live in VA. The market dropped and we got stuck with it as a rental property. I never again want to own a home that is a rental and we only live 4 hours away. The risk and emotional stress of having strangers in your home is too high. IMPO, I will stick with the safer route and use bonus points.
~ FYI for our military posters AMEX reimburses the annual fee for Gold and Platinum cards. You pay it first, than submit proof you are military and a few weeks later on your next statement they credit your account for the fee.