I purchased both in city with an air-force base near by, with a strong demand for families to live in a home with a yard; also has the best school district around! 

That agent has a fiduciary responsibility to their client that they listed the house for.

As a matter of fact as quoted" to me just recently by a PL that I used in 1991 but, is shutting down ..because I can't see people being abused like that and QUOTE:  With the NEW Banking Regulations Obamaboy has created a new PL Enterprise similar to payday loans" and making a lot of PL's rich ... and practically overnight but I'm not interested in  Obama scamming my former clients..JohnR

My program for my clients models the "BRRRR" strategy and we are having a ton of success with ROI's in the mid-teens on a consistent annual basis!!

You can either continue with that structure indefinitely with a strong management agreement in place if you want.  

Be sure to make the contractor take you to examples and clients of work he has done this has been something we have not done but once we finally did we started to get way more reliable contractors. 

I've had many ups and downs and many times when I wanted to throw in the towel but I've persevered and I've achieved success with many clients. 

I am new to real estate investing but have a strong passion to begin my education and grow my business.  

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?

Im sure they have a strong network and may be able to send you in the right direction.