Welcome to BP, Rodney!

But yes, now that we are here, maybe let him know that if things do not get up to date or cleaned up you will go to his superiors.When people are late right at the beginning, I let them know that the behavior is not acceptable and let them know there are consequences to that bad behavior. 

They can say you failed to make a repair and wish to withhold ent to get previous rent returned. . 

We are learning as we go here and I am curious on the approach others have used when going for their first property after getting their HELOC set up alongside an LLC and so forth.

To have a chance for success in any particular investment type, the investor needs to understand the fundamentals related to that type of investment.  

Can anyone provide any thoughts, good or bad with respect to renting to college kids?

There's no real hard and fast way or only 1 way or doing your first 2 points. your subject line suggests you're not looking to go to a large shop like a JLL or a CBRE which honestly I don't blame you those offices are usually pretty bloated.As far as monthly costs, if you are going to individually get a costar or other such license you are probably looking at $500-$1000 a month pretty easy in overhead once you have office dues, mls dues, marketing, etc. 

Are you thinking to rent the ADU as STR or LTR? 

In my area, if you own an investment propert/non owner occupied, you need to add it to a separate registry and file with the municipality in order to legally collect rent and have backing in case of eviction.

@Vincent Cavalieri Happy to connect.