Maybe the tenant isn't going to cover PITI but you won't have massive cash-flow burn (relative to your W2) and your tenant is paying down some of the mortgage. 

Again there are many segments to even the student rental market, so know who you are trying to serve, what they can pay and where they want to live so you don’t get burned assuming $500/bedroom rents in a $1,200/house neighborhood. 

@Tom Burns,If there is a possibility that there is an issue with your transaction - would you just ignore it or would you want to know about it?

No vacant/ burned out homes.

I think I will try a few more meetings with this agent because I do think maybe things will get better , but if it came to it what would be the best way to move forward with another agent without burning a bridge?

You can also tell your tenants to avoid burning food, keep their oven clean and use a range hood for venting. 

I prefer a 3 bedroom as it's the easiest to rent and avoid 4 bedrooms as I was burned on renting to a huge family.  

Cash flow is around 4-5k with a 20 year loan factored in, but that isn't producing a cash on cash return that makes it worth burning up 80k in cash.

Addressing the problems is like trying to put out small individual fires in a forest that is burning.

On the off chance the place burns down randomly with no at fault, you wouldn't want a renter on the street with nothing.