Knowledge is always key when you want to replace emotions with facts.

So here it goes....I bought first single family home (2000sqft) 2 yrs ago in Cedar Park, TX area during peak of market craze at 5% 30yr fixed for around $540k (spent about 10K more replacing hvac etc) with monthly payment of $3600-$4000 and the market corrected sharply to a point comparable homes are not selling even for 440k with a nice pool in them.

In my retail plaza I have always tried to prioritize tenants that cannot be replaced by online options - barber shop, spa, Subway, photographer, etc.

The tenants may not like the timelines or outcomes of the repairs - part is on back order, they have to pay for the repair due to abuse, the owner chooses to repair instead of replacing.

It's current tenants are not students but my plan is to replace the tenants with students within the year after purchase.  

I would say today 40-50% of your income goes towards normal operating expenses. 50% if you want to include replacement reserves which you should.

I'd keep this property and casually search for a replacement- when something looks interesting you could always consider a 1031. 

But, good intentions isn't a replacement for actual experience.  

I don't aggressively increase rents if a tenant's current rent is within the turn cost / 12.For example, if you need to replace flooring, paint, and fix up a few things... your turn cost might be $5-7k

appliances are usually easier to replace.