You can always sign a new lease or change an existing lease as long as both parties agree to it. 

I put $550,000 into the demo and construction of this new single family home with over 2900 SF, 2 stories, 3 view decks, 4 bedrooms, 4.5 bathrooms, large chef’s kitchen with top of the line appliances, huge yard, attached 2 car garage, and built in BBQ, fridge and bar seating for 7 on the backyard patio.

(The part I think is the hardest and I like the least.)

All you need is a qualified 3rd party intermediary and a new property. 

The idea being to promote studying instead partying (potentially decreasing the damage/complaints on the property), incentivizing the tenant to stay throughout their college career (decreasing turnover/vacancy), and developing some additional motivation for a tenant to choose my property over another similar property. 

Morale matters, and if we're going to argue that this is a business, all parties partaking in the business have to be happy in order to continue doing business...

We decided to go see the property and found out from the agent that they had recently rented to a single bartender at a local bar who trashed one side. 

In fact, the only states I know that have a complete bar on creditor claims are FL and TX. 

I think the most frustrating part is that if its not broken out we have to leave utilities on when they aren't paying.

There are probably some uptight agents out there that would hold you to that agreement but if not's not working out it's usually beneficial for both parties to go separate ways at that point anyway.