Due to the university there I worked with a lot of incoming families and getting what they needed for their dorms.  

Coin jams are going to be your second biggest headache unless you invest in those fancy ones with tap-to-pay but those cost a pretty penny.

Look for somebody who doesn't have all the bells and whistles(fancy van with wrap, marketing, uniform) because you will be paying for that overhead if you do.

Also have some landscaping, doesn't need to be fancy but give the impression the home is welcoming.

Have a picture of your family actually installing a big fancy door.And of course, I assume that you are licensed/bonded/imsured as required by your local laws?

Nothing fancy at all but waterfront.I will agree that basic numbers look pretty bad.

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

Another piece of advise is smaller universities that have a shortage of dorm space.

These currently aren't fancy units. - Value add - When building additional units, what steps should be taken to determine how many can be built? 

Tenants love fancy stuff, so make your property a magnet for them.