Otherwise you could be hit with a special assessment that could break your heart.

Federal law allows him to break the lease if you or him wants to.  

Pull a BIG list, then break up the mail drops so you have direct mail dropping every week or few weeks, depending on your budget.  

Minor stuff, maybe a rack of free weights, a benchpress, and a treadmill with a few full body mirrors and maybe a small TV.  

Still are not clear on how much should be set aside if a dishwasher breaks or something like that.

They have the means for a clean break and I would take a double deposit on a two-year lease in a second.

In answer to your questions, it partly depends on the student body in general and on the type of tenants you want.I don't know Baylor; is it an expensive school?

That would give better break even occupancy.

I'm new to the real Estate world and want to know is $2000 dollars enough to get started making money my credit sucks no credit cards and up to my eyelids in debt came across some money and wanted to invest in real estate want to be an  entrepreneur tired of working on someone else's dream want to work on my dreams  I'm in the Chicago land area and I'm a quick studie can any body help me learn I'm new and don't know nothing please help!!!

I definitely agree that the cashflow should be the overriding factor, I was more or less giving you an out if after breaking down all other factors you were still unsure.