Add to that that the rents are at or near median rent in Memphis and this reads out like a very risky investment - average to below average at best, imo with the little info shared on location.I like the way @Jason DiClemente advised you to look at capex. 

Nevertheless we listed our house at the same $390,000 as the other house, a price that also seemed reasonable based on past student rental sales near campus, albeit none in our very nice neighborhood. 

They would rather stay near their church, family, friends etc and see these D neighborhoods transition. 

Take your proceeds and invest locally near where you live so you can keep a close look on the properties and run a tighter ship

Constant evolution and education is the key! 

I am located near downtown.

Is there any chance in the near future for you to change work and achieve 2 years of W2 employment at home.

I hope to have the opportunity to meet at one of these gatherings in the near future. 

The humidity levels in units 2 and 3 aren't nearly as bad as on the first floor unit (which is the one I'm currently house hacking). 

I will look over all these in the near future and review them so thank you for your comment!