Some American parents are putting the money they'd otherwise spend on out-of-state tuition and room and board for their college-age kids into local real estate in a strategy some realtors call buying a "kiddie condo." A kiddie condo is a home in a college town for their kids to live in. The condos provide rental income, can raise the student's credit score if their name is on the mortgage, and can help them establish residency to become an in-state student and qualify for lower tuition.