So here it goes....I bought first single family home (2000sqft) 2 yrs ago in Cedar Park, TX area during peak of market craze at 5% 30yr fixed for around $540k (spent about 10K more replacing hvac etc) with monthly payment of $3600-$4000 and the market corrected sharply to a point comparable homes are not selling even for 440k with a nice pool in them.

HVAC and Insulation Improvements: Plan for HVAC repairs or replacements as needed. 

In my retail plaza I have always tried to prioritize tenants that cannot be replaced by online options - barber shop, spa, Subway, photographer, etc.

Is it purely interest?

The tenants may not like the timelines or outcomes of the repairs - part is on back order, they have to pay for the repair due to abuse, the owner chooses to repair instead of replacing.

., roof replacement, appliance upgrades) as a reserve.3.

It's current tenants are not students but my plan is to replace the tenants with students within the year after purchase.  

Knowledge is always key when you want to replace emotions with facts.

I would say today 40-50% of your income goes towards normal operating expenses. 50% if you want to include replacement reserves which you should.

I'd keep this property and casually search for a replacement- when something looks interesting you could always consider a 1031.