Yes, 6% or 3% per side normally paid by the seller if it is an on market deal is normal. 

It means the cash-flow you are getting from the rental are not increasing your tax burden.Your lender should normally add back certain items to figure the income to add back for DTI purposes.Items such as Depreciation and one time repairs(Roofs, HVAC, etc) are normally added back

I am curious if anyone has any contacts who are a CPA who specializes in crowdfunding - specifically a Reg A+ offering that can assist in determining entity type and provide CPA services for this whether it be a REIT, DST or a normal C corpThanks

Normally, when starting out, it turns out to be a bigger challenge than people think. 

Pay attention to this upfront>>Will you be required to build a fire Station along with buy fire engines if you exceed X residences--required by a municipality or required to have your built structures qualify for market rate insurance polices...because if the insurance on the structures is 10 times normal the valuation of the structure might be very very low.Pay attention to this upfront>>>Can you get the skilled labor (and CONCRETE) out there in a reliable manner.

No, this is the new normal.

I personally will give up some of the monthly cash flow for a better area, which is normally more expensive, but provides a better resident and typically more consistent appreciation.

I understand the normal eviction process, but what other means do I have to get the squatters out? 

That's not normal.   

Aside from that I think property management will be big as this as a little more of a unique situation then a normal college rental so making sure you and them are on the same page.