Mind you, I was scheduled to receive my final closing date this past week.My agent believes the seller "slowness" is due to inexperience.

If I were you I would say you priced the unit according to the 2 year lease and (I don't have a good reason why you would not charge a security deposit but maybe just say inexperience if you need a reason).

Hoping to fill some of those knowledge gaps through BP.. although I recognize issues will pop up due to inexperience.

So it always comes down to the quality of the team you're working with.There are lots of people out there looking to take advantage of rookies and profit from their inexperience.

I have found deals there but they fell threw due to just inexperience on my part and lack of investors interested in the deal.

The mortgage payment, taxes, insurance, etc. would probably run me about $1,100-$1,250.Given my personal budget allows for $1,500/month in savings, anyway (plus a discretionary allowance I could tap into if needed), I feel like I could handle vacant months without feeling the squeeze.I would definitely use a property management service — the combination of my inexperience and my long work hours (often 70-90/week) means I am simply not the best candidate to manage property on a daily basis.I'm not looking for supplemental income out of this.

The most obvious area of inexperience for me is the actual self-estimating of the rehab costs as I have very little background in that area.

The guy with the money might see inexperience and hasty decision making that will lead to bad results.It's all perception.  

Unless you have $100,000 in savings, I would continue to save because as a new, inexperience, young RE investor you can't have too much in savings.So, continue saving. 

If the unit sits vacant for an extra month because of your inexperience in this area or worse you don't evaluate the correctly and it turns into a nightmare tenant situation, doesn't that justify the cost of having someone do it for you?