I am trying to get a full understanding of the expenses and the tax implications of having a tenet. 

Once you get clear on that understanding then you're ready to invest and that should line up with a time hopefully when the opportunities are better in the space than they are right now and say 8 to 16 months. 

Your understanding was correct and anyone can do a 1031, with just one property, no LLC, etc.

I understand this requirement is in the Texas Property Code, but I want to confirm it applies to student housing. 

I am new to real estate and am wanting to get a good understanding of the market in the area in order to figure out what I should be aiming for to get in return per month.

Don't see a reason to look differently now, but absolutely understand I need to here shortly.

You could also have a realtor pull comps for you.That said, you must REALLY understand your market at this price point.

Hello everyone,Bigger Pockets provided a lease agreement for Arizona which has an option to require the tenant to a include liability requirement in their renters insurance.I'd like some advice to help me understand if I need to include a liability amount as a requirement and how to adjust this amount for different properties.Thank you in advance!

That's understandable but you'll be dealing with a call center.  

you just have to understand inflation happens and dont look at what was happening 5 years ago -it ids not important to your goals.