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.

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

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

@Andrés Aguilar I totally understand.

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. 

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

Pace just did a video on foreclosures (after I posted on it) and he failed to mention several steps that are critical to understanding the process.

You really need to give a lot more context for us to understand the scenario. 

For calculating this, there is a bunch of methods, first months rent is easiest to understand and execute, but might not represent how much work you put into the deal especially if the tenant is very picky or gets denied.