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. 

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

Also what would you estimate for architect fee for 1 acre lot with utilities on-site and for 8k to 9k sft retail strip.  

Before using such a program get your own estimates.   

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 do not have my numbers as well organized as @Greg Scott but my estimate is upper 20% annual return on average.The 3 i am currently invested in, one seems likely to produce an outstanding return (High risk, high reward), one is conservative and is performing to projections, and one i have significant concerns about but has not had a capital call.  

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).

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.

It is not, it has limited application, and for travel expenses it does not apply at all.If you do not have a mileage log, you have to do your best good faith estimate and then pray that you're not audited.

The Housing Wire Daily podcast has great insights into rate movement and forward estimates.