I agree with Brett that it sounds like you have a lot of good experience to offer to the forums.  

I totally agree with you, is that it's all in your mind.All you need to do is link up with seasoned individuals that already own bigger deals, bring value to the table and ride their coat tails to put your mind at ease.  

I of course will travel anywhere in the country to inspect personally.

I think both @Dave Foster and I both agree it can be done but my personal feeling is that it needs to be set up correctly and talked through. 

Good contractors can be hard to find.Here is my advice.I have had great luck finding them at our local real estate investor meet up group.I agree building supply centres can also be a good source.In my experience it is easier to find people to do a big job, rather than small ones.What I have done is formed relationships, where I give them a good big contract and in return they do the small stuff for me.I also have a couple of handyman type people on my team.They are usually doing repairs on the side, often for cash under the table.I only trust the small guys with minor stuff, maybe laying a floor, or replacing a toilet.The key is to build a solid team, do not nickel and dime them, pay them as soon as the work is done.Build a win win situation.

My businesses is quite simple, I buy properties all over the country at 60% of as-is value from off market deals and re-sell at full value on the MLS.  

@Jerad Gardner I turned my primary residence into a rental property when I moved across the country.

I agree you shouldn't live in a shed, but not for the reasons others have given you.

I agree that vacancy may be low given it's a student rental (assuming there is strong demand in the area) but there will always be some vacancy.What updates have been done to the property?

I agree with Michael that it's also a selling point for future buyers.