The age/maturity of the tenants and the fact their parents or grandparents are typically guarantors are undoubtedly factors at play here.When we are in acquisition mode  or refinancing properties, lenders prefer annual or term leases to a month-2-month lease.  

Every vehicle used to park cash is at risk but in this day and age real estate is simply too high risk for my blood.

A little about myself...I first started to work by maintaining my family's apartment buildings at the age of 10 and continued until I went to undergrad.

I would say it depends on the age of the AC unit.

I'm in the middle of a full remodel and the carpeting and linoleum had to go - one due to pet odors and the other due to age and poor repair.  

They have replaced water heaters, furnaces, and refrigerators regardless of brand or age. 

We have a"personal property tax" on our cars that declines with age and value-mine was about $1,500 this year for my year old Lexus.

With the aging of the population accessible properties may become more in demand.

@Austin Whitcomb my initial reaction to your post:Big Pro: It'll be easier for you to manage students because you're closer to their age and will know what to expect.Big Con: It'll be harder because you're young and they might not respect you because of your age (this was my experience as I started when I was 25).This thread may be helpful: Nearing 1,000 College Students: Here's What I've Learned

I will be executing a bill of sale, sellers disclosure and an Application for Statement of Ownership once I receive verification of the amount that is due.