Will the college students really care that much with a upgraded home (or are they looking more at the prime location and convenience?)

Seasons on Boulevard might be the way to go if it's that convenient to campus. 

Got almost the same bulloney from a Realtor that conveniently left out vacancy and maintenance on the sheet they provided me.

It is cheaper and more convenient.

What I had analyzed from my experience is that 1) People, especially those with family would prefer to rent a whole house where they don't have to deal with other tenants above or below them 2) Families, especially those with kids don't like to move every other year, so they are more likely to behave when it comes to rent payments 3) If you provide amenities that are not easily available in other properties in that neighborhood like washer/dryer, parking or more than 3 bedrooms, you can stand to charge an above average rent because you are supplying convenience. 

Turnkeys are a convenience factor.

You also might want to locate an office that is convenient and not distractive to you.  

Brian I have not worked with Memphis Invest but I have talked to Chris on the phone before.Everything I have read over the years here and others who have bought from them seemed positive so that's all I can relay about it.With any turn key company you are losing some of the upside for the convenience but you are also losing much of the upfront work of buying the property, fixing it up, and screening for a quality renter.Some investors loathe turn key and want more yield and others are fine with it.

I have, under contract, a .4 Acre small commercial property with a Convenience Mart as anchor and two ancillary units- 1,784 Sq.

Conveniently, in spite of a long post in response to my question, she didn't answer whether or not she had done such an REO purchase since 2008.