@Ryan McKean im not local but I can bet most will tell you '3 miles from campus' is too broad to get an accurate rent estimate...

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The Combined income was over $350k per year.I can't tell you how many Investors I have known for the last 20 years miss the boat because they couldn't find themselves "Betting" on the trends.I think if you can put your fingers on the pulse of the Market, you can easily beat the averages, by FAR.However, not everyone has that kind of risk tolerance.

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There are many calculators you can use to analyze deals or you can create an excel analysis tool too. 

It also has some built in calculators as well.Rentometer.com - You also can use this to assist in determining rent ranges.Permits and Enforcement searches - http://permitsandcases.indy.gov/citizenaccess/This is my absolute favorite tool for research.

@Eliot M. all of those formulas are back of the napkin calculations like the 1% rule.

Marketing wise, is direct mail still viable in 2018, or is web based marketing targeting seller owned properties a better bet?

I just came across this article from Calculated Risk (the article is about a year old so here is the latest data.) which suggests that MF demand will start to shrink due to increased supply from new building and decreased demand from those aged 25-39, who will make up the top three age brackets in 2020, who will enter their prime home buying years. 

Utilities are generally public and you can call them to get averages, taxes are public as well and can be pulled either from a assessor website or at their office, insurance companies can give you cash value and replacement value quotes by giving them an address, general rule for running calculations for vacancy is 5-10% of gross income, I have seen maintenance expenses all over the map (anywhere from $300-750 or a % of the rent - those vary depending on the number of doors in the deal as well as how much deferred maintenance has to be dealt with or how much rehab you are going to do to negate the deferred maintenance), contracted services, call a few landscapers and get quotes and use those for your analysis.