It's a lot less likely that the university will shut down than it is for a say a company that is the primary earnings base in a smaller town to relocate / downsize.It sounds like you are experiencing good returns, managing your "brand" and having good experiences with student turnover.One thing to consider might be exit strategy.

I've met some of my best investors on planes, in church, at professional sports games, and many other random places. 

That in itself is practically a whole other company to run and that would shut you out quite quickly with most places.If you find the right brokerage then you will be able to do the things you want to, that is as long as you do it correctly...

They can do volume with trans fees and if they lose their brokerage license from something bad happening they just shut it down and keep doing investments.

Hey Marc, sorry for the late response but the building is located in North philly and its 2200 sq its a church but I gutted the building, put a new roof on which came with 10yr cert plus started studding the building out. 

Landlord should not pay for any of the utilities - however if you have a utility owned by the city in the state of Missouri, if the tenant does not pay you are going to get stuck with their bill and in the case of Kansas City Missouri water, they will not shut off the water and in most cases will not tell you that they have been sending shut off notices for non-payment to the tenant until the bill gets into the 1000's of dollars, then they send it to collections and sue you.I would say figure out how you cover water and include it in your rent in KCMO  - the rest of the KC metro is pretty good on utilities.

I've noticed business slowing down and suspected they might shut down (they have multiple locations). 

(again suggested advice from the set for life book)I work in Hospitality Management and although its a fantastic job, I still have that entrepreneurial spirit that just wont shut up so I basically want real estate to be my long term exit strategy from having a boss. 

Just making sure I am reviewing all options before shutting it down or pulling the trigger.  

Lots of new construction, large beautiful churches, lots of green spaces, all surrounding a huge lake for recreation.