What percentage of expiring leases will renew their lease each month?

@Kylie Nigro, as an investor I would also call around a few places to see what percentage they would charge if you bring your homes to them.

The agreement states “the Percentage Interest in the Company owned by [husband] and [wife], as Tenants by the Entireties, shall be 100%."

In addition, there are also numerous other variables/factors to account for when it comes to college rentals.

Is that too low of a percentage to purchase single family homes?

My concern with this is the variability of bookings, potential extra headaches due to the turnover and the fact that I would not be located anywhere close to the property. 

I offered owners the traditional percentage of gross revenue (30%) AND what we referred to as a “guaranteed contact” which is what you are referring to.

I currently use four of these people in different markets and they make it really easy to self manage because they handle everything once the guest gets to the property but they don't take a percentage like property management companies.

If the market bobbles and your ARV you calculated in the beginning isn't possible at the time of sale and there is a loss, they are likely going to be experiencing a percentage of that loss as well. 

Obviously this option depends on a lot of variables...including local laws, but it can work and keep the best tenants while minimizing actual vacancy.