Seems a little too easy and looking for the cons..

Easy system to see what tenant posted payment.

There are many people that like that because of public transportation and easy access to major highways.  

I'm familiar with that notification since it is the same as with easy permits when a contractor name is required. 

With that said, I am able to and willing to do some fairly easy upgrades such as flooring, paint, windows etc.

You don't want rentals on the street you live on for an easy understanding of how effects actual value.Look in predominantly tenant occupied areas where it's accepted as the standard & rent drives demand not agent listed value. 

Was it an easy process finding college students that wanted to rent from you?

Trading a little bit of your time for a pay check is not a rat race it is easy money.  

On one hand they are great tenants, they pay on time and are relatively low key, easy to deal with.

It's easy to say, "Oh, it's family, so I'm going to give them a $400/month discount on the rent (whatever the discount is)."