I want to tweak them in a very detailed manner.

There are situations in which a cost seg is very compelling, even with a taxpayer in the highest tax bracket and losses that will be suspended for year 1.A huge swing to strong taxable income in year 2 would be one such example. 

Any idea if we can form a LLC and setup the operating agreement in a manner to do this?

Can you compel them to pay any difference between their voucher and what you are charging for rent?

Then take the computer stuff and your accounting basics will allow you to see how and why you are doing something.The other aspect is that some programs may not have accounts that really match your activities, knowing the basics allows you to modify or manipulate a system in the proper manner.

If you are asking for 30 days..or even longer...my guess would be she has figured out your true intent and won't be taken advantage of in that manner.

You can set up your business in any manner you see fit but I would encourage you to think about your customer first - and your customer is your investor.

Also, when it comes to students, the contracts have to be written in such a constraining manner (purely to protect your investment), that it can become a little unattractive to the decent tenant. 

By the time your units are filled, likely in a staggered manner (one unit at a time), and you starting seeing income hit your account, you're probably 2+ months in.

If an employee were damaging your property you would address it quickly and in a forthright manner.