Thanks for the replies everyone.
Just a few things to mention though:
1. I sold off most of my online assets to pay for tuition, housing, etc.
2. I still have a good chunk of AutoBlogs left bringing in some cash every month
3. One project was put on hold and converted into a help center for people who are just starting in IM - I'm doing this from my phone, so it fits into the schedule very well. I'll setup some way to make money from it from outside traffic while still helping out people on the inside.
4. I'm in the process of looking for a JV partner, but it's been slow.
5. As for the college students, I've already milked them dry with CPA email offers in the first 2 weeks
Two things that I need to work on, which a lot of you mentioned above, is time management and risk taking. Fall break is coming up, so I'll make sure to get my **** together then.
Thanks for your advice.