Not knowing the details, it seems risky to bet on a pretty much single type of demographics - students.Thoughts?

If you're starting at square 1, and don't have wealthy friends, family or contacts that are willing to take a bet on you personally, then it will be hard to establish credibility with people you haven't met since you don't yet have a track-record. 

Even though the property is very cheap, I dont foresee much appreciation and would bet on a high hassle factor. 

On maintenance and CapEx I usually account for 5% each of the rent but, just know that the rule of thumb is 10% for each --- It depends on your property class - A, B, C or D/warzone.

That's mainly what I own now... and C or below makes me a little nervous. 

Heres a link.https://www.engadget.com/2017/03/07/apis-cor-3d-printed-house/

IMHO its not too difficult to source a realtor and put it under PM on your own.Otherwise you can source in san bernadino and riverside counties and bet on the appreciation play locallyPrices in OOS markets are the same as they were in 2006 so be careful...

Not exactly 1% rule, but it has high appreciation potential (although I wouldn't bet on it). 

You can then file a schedule c or e at the end of the year for all expenses related to the business.

An exception would be if the A/C or furnace had a specialized purpose such as in a climate controlled self storage facility or a restaurant walk-in freezer.