If you find a property in the sweetspot where you can attract professionals as well as students vacancies will never be a problem. 

Like adam mentioned coming from commercial real estate or other backgrounds notes may seem like a cup of tea since many in those backgrounds have dealt with real estate professionals and know what IRR is and how to run a financial model.

Professionally, I'd figure out what you need & build and then "save" (aka "not use up") additional land for the NEXT expansion versus utilizing it for extra-wide driveways & aisles.Also, is anyone helping you design this? 

But at least you can know what you are getting into.As @Brian Adzadi pointed out, you want to make sure it is up to code, any renovations were properly permitted and professionally done, and that there are no violations that can surprise you down the road.

Make sure you are using professionals at asbestos remediation.

Consumers still prefer to work with a skilled professional because of people touch, and local knowledge which can not be replaced by technology or automation alone.Sam Shueh Realtor

So basically they are saying loud and clear they dont want any professional investors utilizing their HELOC only the accidental landlord or aspiring RE investor.None the less the product is stellar.

You'll be able to hire professionals management and will likely get a lot more appreciation in the coming years (while still only buying something that cash-flows).

Best way is to talk to a CPA or tax professional.

I don’t get calls for repairs and I know my investments are with experienced professionals.