College area rentals?

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I haven't posted much on this forum, but have been lurking for a little over half a year. I thought it was time to bring up some of my thoughts/experiences with college SFH rentals.

I am a very novice REI and currently own one property. I have a good amount of capital to work with due to some family inheritance, and currently have all of it tied up in the one property. I am in my last year of college and plan to pursue a career in commercial real estate, but keep a side business in residential rentals/flips. I have caught the SFH rental bug and wish to purchase more.

About my current property:
4bd/2ba, 1560sq ft rancher
2 blocks from Elon University in North Carolina campus (5,000 undergrads)
Purchased 2 years ago for $134k
Put $25k into the property ($5k went to removing a very large in-ground pool)
Total investment: ~$160k
Rent income $1500/mo
Carrying costs: $2000/yr
CAP rate: 10%

I was considering taking out a 50% LTV 30yr fixed loan on the home ($80k) and putting it into another property, maybe one with an 8% CAP. If I were to mortgage the current property @ 6% I believe annual loan amount to be around $6k. The home would then see a cash-on-cash yield of 12.5%.

What do you all think about college rentals? Any experiences? I understand what goes on with college students in a rental home (hell, I am one), but the rent you can get out of a student is very high compared to the surrounding market. I believe any home within a 4 block radius of a college to be in a bubble of its own.