I’ve been told that two years is a very reasonable estimate for maximum time it might take for the eviction.

Before using such a program get your own estimates.   

Scott's book on estimating rehab costs, it's a must read in this area: https://store.biggerpockets.com/products/the-book-on-estimat...In addition to that, I would check out my article on due diligence.

While Redfin isn’t the most reliable source for estimating the values it indicates that I have about 400k in equity.

Don't charge for utilities, keep the rent at a fixed price that already accounts for estimated costs such as utilities.13. 

If there are any specific tips specifically trying to rent by the room house hack in a college, like things to look for in the house, how to estimate the correct rent, or anything similar to that i'd really appreciate the advice. 

They have almost 6 months worth of rent in savings, but their house they are selling looks like it is paid for, and estimated at $450-$500k value (redfin and the county appraisal).

I would also increase your underwriting rehab estimate number by 15-20% since most renovations go over budget.

Estimated sale price to be $200,000 

The rehab estimate seems very low and the ARV seems really high in my opinion, just based on a tiny bit of research looking at what this property was listed for recently (it hasn’t sold), and what the surrounding similar properties are worth (~$250k).