Another thing,  from the demographic statistics, it seems that there is a higher percentage of people that prefer to rent than usual. 

Purchase price: $195,000 Cash invested: $40,000 Sale price: $308,000 Installed new half bath, renovated kitchen and expanded into prior dining, added HVAC, refinished hardwoods, created positive drainage in the backyard, and improved landscaping in front and backyards.

Great idea...you know that you are not the first to think about it"...it can be a difficult niche to get into since there are usually many established investors there...that said...I just closed on my first student housing so with enough persistence it is possible for sure.Way I went about finding my market was to make a list of all colleges 2-3 hrs from where I am and focus on those with the highest number of students...Wikipedia have those statistics for every state...then you start eliminating them until you find the one you are most comfortable with.One big thing to watch out for is that some colleges are entering into the student housing business and since they can force their undergrad to live on campus they can eliminate large part of the market if not all of it over time...That is probably less of a concern with larger universities.Good luck!

Added $50,000 to rehab the property included exterior & interior paint, landscaping, all new appliances, new AC System, Tile, Kitchen and Bath remodels.

Houston Real Estate Highlights in February Single-family home sales were statistically flat year-over-year, with 5,280 units sold, ending three consecutive months of declining sales;Days on Market (DOM) for single-family homes increased slightly from 66 to 68 days;Total property sales were also statistically flat, with 6,388 units sold;Total dollar volume rose 3.1 percent to $1.76 billion;The single-family home median price climbed 2.9 percent to $232,900, reaching a February high;The single-family home average price increased 1.9 percent to a February high of $286,156;Single-family homes months of inventory was at a 3.7-months supply, up from 3.1 months last February, but slightly below the national inventory level of 3.9 months;Townhome/condominium sales fell for a sixth straight month – down 7.6 percent, with the average price down 11.9 percent to $186,859 and the median price down 11.8 percent to $150,000;Lease properties staged a strong performance, as single-family home rentals leapt 26.5 percent with the average rent up 0.8 percent to $1,733;Volume of townhome/condominium leases surged 27.1 percent with the average rent up 1.9 percent to $1,548https://www.har.com/content/newsroom?

Do you provide a housecleaner or landscaper for upkeep to the property while they are living there?

Houston Real Estate Highlights in February Single-family home sales were statistically flat year-over-year, with 5,280 units sold, ending three consecutive months of declining sales;Days on Market (DOM) for single-family homes increased slightly from 66 to 68 days;Total property sales were also statistically flat, with 6,388 units sold;Total dollar volume rose 3.1 percent to $1.76 billion;The single-family home median price climbed 2.9 percent to $232,900, reaching a February high;The single-family home average price increased 1.9 percent to a February high of $286,156;Single-family homes months of inventory was at a 3.7-months supply, up from 3.1 months last February, but slightly below the national inventory level of 3.9 months;Townhome/condominium sales fell for a sixth straight month – down 7.6 percent, with the average price down 11.9 percent to $186,859 and the median price down 11.8 percent to $150,000;Lease properties staged a strong performance, as single-family home rentals leapt 26.5 percent with the average rent up 0.8 percent to $1,733;Volume of townhome/condominium leases surged 27.1 percent with the average rent up 1.9 percent to $1,548.https://www.har.com/content/newsroom?

Use your broker's license to have access to real market statistics and info. 

Is she ready to manage those properties if you do the statistically likely thing and check out first?

Around here most tract new homes give you no rear landscaping and maybe a 3' x 3' concrete "patio" in back.