Also, there is a great thread here on BP on how to harden your rentals (in other words, make them more durable, less prone to needing fixing/maintenance, etc), read the threads about property management, and buy those properties right.I think you'll do well.

Two points don't go all out on the college student rental, safe functional and durable finishes.

Tile is more durable but costly. 

To lower maintenance costs try only putting carpet in bedrooms and use durable flooring everywhere else. 

Need something durable that won’t scratch when moving appliances in and out.

What's the best bang for your buck for durability and value for flooring?

I didn't use good, durable flooring and most it has to be redone.  

The durability of the cash flows that you will receive as rents determines your long term success in buy and hold investing (along with a host of other factors) but without revenue, you don't have a business, remember you can always fix management.One good way to think about it is, not only is it about who am I renting to today, but also, who will replace that person or how many people are in line to replace that person in the future?

I agree with the sentiments that knowing your PHA/Section 8 program well, knowing your city well (ie the good and bad low income areas), and being ok with renting simple, durable properties instead of beautiful ones. 

Order a third-party property inspection Make sure the property has been rehabbed to turnkey quality that will maximize your cash flow (roof and HVAC updated, ceramic tile it kitchen and bath, vinyl plank hardwood in high traffics areas, durable carpet installed in bedrooms, external fences and buildings addressed during the rehab, supply hoses replaced under the sinks, etc) otherwise your cash flow will go to maintenanceBe skeptical of the one-year tenant warranty.