The property is located near two colleges, so I’m focusing on student tenants and planning for 12-month lease terms.Do you have any tips or advice for renting by the room?

I do not individually allocate for the small items but the maintenance/cap ex worksheet contained the reasonable costly stuff like you mentioned then had an entry for all of the small items (bathroom lights in some of my locations do not last 10 years). 

I disagree a little about what you said about companies are entitled to fair market rents, I believe that depends on where they are located.

In this case the Service of Process will be easy but once they have moved on, you'll then likely need to hire a skip tracer to locate them.

It’s above average condition in a good location.

After living in the property for a full year, we have come to terms and accepted that this is not our ideal location.

No problem with borrower, business LLC, and the location of the property.

@Mike Lambert That is highly dependent on a multitude of factors like size/luxury class/location/housing type/owner restrictions/etc.

There was no emergency shut off switch before but i asked the hvac contractor to install one and he did ( located inside the apt).

its location dependant..