Like most places there are good and bad..  

If structured well, this can be a great way to get started without much cash.

Campus housing has been under tremendous headwinds for the last 4 years.These properties were sold with extremely aggressively optimistic projections, as well as a price that represented a significant premium to fair market value.So sorry to hear about your investment.

Let me know if you'd like to chat.

Sounds like you’ve got a solid foundation with your GC and project management experience.

How many tenants will you lose not because they didn't like the property but they didn't like your tenant selection.Remember my first point FLEXIBILITY, well if you decide to bail on the rent by the room, it is more unlikely that you can cashflow positive with a SFH than a duplex in Austin TX if you move out of the property.  

State and federal government liens like inheritance tax and IRS tax liens are NOT wiped away.

I like to have my paperwork pretty, neat and efficient (Im thinking about getting an application ready).

Vanguard and Blackstone have a lot of interest here as well. 

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?