Unless you're using an online application program, have every applicant submit application in writing.

The CFPB is working to classify these programs as credit to drive them onto credit reports.

What are the essential pieces of furniture and amenities I should include to make the unit attractive and functional for college students?

Maybe not all allow, but many do.I don't doubt that they function, even if against the rules.

Gabe,The top theory from the reports I've read and contractors I've talked to is that water got in due to a graded slope towards the house, and a sump pump that was not functioning properly.

Seems like a decent program, I will want to learn more about the underlying assets they are lending on and borrower criteria. 

Either adding square footage to an existing functionally obsolete 2/1 or 3/1 or splitting off a double lot.

When looking for a PM, consider these criteria:1) the experience and credentials of the broker who supervises the company as well as the lead property manager2) the services they offer and how they line up with your needs and expectations3) the use of technology to make their job and yours easier 4) if they have a landlord-tenant attorney on retainer to help guide them on legal issues (not to mention the creation of lease agreement, landlord forms and notices, etc.)5) their process and policy for a) listing, b) application, c) tenant selection, d) routine inspections, e) maintenance services, f) property and tenancy update reports to you, g) lease enforcement policy, and f) move-out process.6) property owner reviews (caution: you can't always rely on Google reviews, because they may not reflect actual quality of the company, but still) 7) beneficial programs for both owner and tenant 8) a property management agreement that would indicate they know what they're doing and have the experience to know what matters in a PMA.

You can utilize flexible investor loan programs to help secure property. 

I think your best is to keep reading and above all build your network reach out to local investors and ask what they need help with.I work with special needs kiddos and we often call investors, lawyers, etc. and ask them how we can create an intern program where we help them and learn the business at the same time.