Most will say a LLC will, but I would leave it in my own name and just get insurance on it to protect you. 

I can pre-authorize an amount and if the expense is below that, the vendor can do the repairs without talking to me live4) Urgent maintenance issues - say a pipe breaks, or tenant is locked out.

I must say as an Ohio Realtor that Ohio is a great place to invest in real estate.

First dont take everything people say as gospel, There is a good chance what your consultant told you is not 100% true.  

I can pre-authorize an amount and if the expense is below that, the vendor can do the repairs without talking to me live4) Urgent maintenance issues - say a pipe breaks, or tenant is locked out.

But would you say a cash-out is better than using a hard money lender to do a BRRRR? 

I'll say a number, but take it with a boulder size grain of salt. 

Have to think when you have say a duplex, 2 units.

And since apartments are on the same parcel it doesn't fit as well with the property as say a duplex would. 

Though I will say, as an owner / specialist in local student housing, student housing wouldn't be my play right now especially for a first-time investor.