If the house hold supports 5 adults and a child then the well should to. 

It's a good way to support your position, if need be, to state the rent is on time or it is not and a late fee(s) plus a daily fee is required. 

You'll be asking yourself what these extra are worth now, each year when you contemplate rent increases, and each turnover, so it is good to have facts and data to support your gut feel.Keep in mind that if you stay lower rather than pushing the price, you'll get a better applicant pool to be able to choose from.

He's willing to let it go to me well under market value ($150k, comps support $300k) and he offered to carry financing (seller financing).

Have you considered going that route and run the numbers to see if it supports the interest payments?

I have a little experience with the utilities and it took an act of God to get a support wire moved so what you are looking for is the definition of a long shot.

If the bank is requiring this kind of outside cash flow support, I suggest you find another lender.Your forecast of a 1.5X at only 25% occupancy on student housing does sound a bit optimistic.

What is really holding me back is the lack of support from any mentor or experience person.

Lionsgate real estate group, It really supports its agents, there are no monthly fees, they have a dedicated marketing team and all of your marketing is done for free.  

At the moment, I don't think it will pass VA inspection standards, the porch stairs is rotten and support is broken.