A late fee of $5/day will be assessed for utilities in addition to late rental fee.  

Vacancies need to be accounted for in the initial assessment of the property.

You should also assess the supply/demand situation for students within walking distance of campus.

I've had about a dozen people leave Detroit and move to my houses in the last couple years.

I talk to dozens of investors every week, so if you're good I'll definitely be a repeat customer.

Since government entities do not have product to hide the fees in pricing, they have to allow the companies to assess the fees directly to their customers.

Were about to purchase a home ( for 47k and tax assessed at 160K) that we plan on fixing up and living in and hopefully be able to get a heloc on it in order to continue growing out flipping business.  

Before you select a real estate agent make sure you do your homework.Educate yourself Define your vision where do you want to be in 1yr, 2-5 yr etcCreate a strategy to achieve your vision are you going to focus on SFR, MF etcIdentify your farming area i.e. what zip codes are you going to focus on, what price points etcHow would you assess a deal?

I, too, am newly poised to dive in to RE investing (at this stage, still actively trying to assess viability, learning as much as I can, etc.)Key focus: find good deals. 

A good property manager can help you create an accurate assessment for your operating budget, capital improvements, value add potential and other key operating elements that will make you money down the road.