Have you advised the tenant that the dirty water resulting from the powerwash would dirty up the windows?  

Call the local water company they will tell you. 

That said, what didn't pencil was the over-valued land price, the cost of running electric and water hookups for each of the houses over 40 acres, land-clearing and excavation, and the amount we anticipated people would be willing to pay per night extra for glorified camping.  

It's a 3/2 lakefront property (more like man-made channel-- no boats, fishing, or swimming), and the minute you open the front door, you see right through the house to the water. 

So if you were worth 2 million and bought a house 50k cash that is a 2.5% total of your portfolio value.Maybe dip your toe in the water and see how one goes first.

Again, I've never bought or sold a piece of real estate in my life and I've just put my toe in the water. 

Today me and my brother went in to fix a water leak.

I have a very successful and profitable business in student rentals and will provide the buyer with the information and guidance to make this property an ongoing financial success, including advice after the closing if wanted.Estimated Financial InformationPrice$164,000 Monthly Rent2,520 Annual Rent30,240 Utilities (water)($480)Current Taxes($2,640)Repair / Maint (7.5% rent)($2,268)Insurance($1,000)Annual Operating Income23,852 Closing Costs5,000 Mortgage (80%LTV)131,200 Total Cash Invested37,800 Monthly Mortgage Pmt @ 4.5%, 30yr($665)Annual Mortgage Pmt($7,977)Estim Net annual cash flow15,875 Cash on Cash Return42.0%Gross Rent Multiplier5.4Cap Rate (NOI / Price)14.5% So here is my question:Is is reasonable to rent student housing for 12 months a year?

They decide, "The lobby needs new furniture" before fixing a back-up water pump, so one day the main pump goes and boom, no water pressure.

You may have already considered this, but you might want to keep the water/sewer bill in your name.