Interest rates could be in the high teens plus you may be required to pay upfront points.

Lafayette has grown immensely since my childhood / teen years there.

In both cases we offered "best product, best price" and were spoiled for choice by by the good quality tenants looking for good housing.A "lesson" from being a new landlord has been the lessons we're able to pass on to our teen and tween daughters about diligence, hard work, saving, and investing.

Two little kids who are siblings might share one in a pinch, but 2 teens or 2 adults do not want to sleep in a bed that small.  

I have been interested in real estate since my early teens, specifically wanting to be a landlord (or slumlord, at least I'm honest).

It may be best to tap into that equity and get it working in higher return investments.I do apartments... most investment opportunities I've seen recently are projecting mid-teens as average annual returns.

There are other options I have been selling to my investors right now that are putting out nominal cash on cash returns but are putting out high teens for a IRR (internal rate of return).

I am pretty new (as is any person who is in their teens still) but I am super ambitious about my real estate dreams.

To answer your questions:I like to see at least $150/month/unit and a CoC ROI in the mid-teens or better.Correct, just cash flow.

Our 14 year old is really into Rich Dad Poor Dad for teens and the younger 3 love being helpful.