Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

It's also good for insurance and legal reasons, because you will need to indicate every adult and all persons, as well as details (like children, pets, etc.), on the lease.  

If you are hungry and you have no food, you will do anything for food because you have to.

@Andrew Frishman - here is some food for thought to get you started: https://www.biggerpockets.com/member-blogs/11782/84402-how-to-evaluate-a-sponsor Feel free to DM me with any specific questions, I have invested in multiple deals as a LP and as a GP.

There is no such thing as FREE college, FREE food, FREE housing, FREE health care.

It's not a one-size-fits-all answer, but hopefully this gives you some food for thought.Whatever path you choose, I'm here rooting for your success.Jasper & PatTurning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

For example including a washer/dryer or allowing pets.

I'm in Canada where tuition is different (not as expensive as the US), but the biggest expense I see is what students pay for housing and food, not their tuition (US is likely different).Real estate investing is not passive and not something you can live off.

With respect to Tenant's back grounds, pets, rental history, job status etc etc we are always looking to learn but feel that aspect is strung and thorough.

One of my Bizz partners was the President of STauffer foods ( a Nestle company) He would talk about how important it was to personally hear feed back..