I'm trying to get started in real estate investing with this going for me/against me:Have almost $5,000 available from college prepaid that I don't want to use on a degree (my interests don't require a degree)Just recently unemployed/freelance writer living with parents (no housing expenses)Plenty of time on my hands available to possibly use for REMassive South Florida RE market (I'm in Southern Broward)Limited available credit and can't freely open and use credit cards as I please due to credit score and job situationWould probably get rejected immediately for any mortgage whatsoeverBut I have available one of the best official REIA-condoned paid mentoring/hard money supplying programs in the country (BREIA's) that I could choose to opt for.

Also there is normally an adjustment for prepaid items.

I have 6% APY in a small savings linked to a Prepaid card called Mango Money.

That money can essentially be considered prepaid interest (it's money you pay that goes to someone else). 

And the vbro service would be the one that would go after the owner.I don't think there's any gray area whatsoever there as long as you're contract was clear:1) Owner would turn over all prepaid booking money received to date.2) You would honor all bookings where you received the payments from the owner.So let the owner justify her check and tell you which bookings are included in the payments as being prepaid and which ones aren't.

Also, the property is in an okay neighborhood.Values with squigglies are estimated.Asking Price:  $94,500Closing Costs:  ~$2,500Rehab:  ~$500Down Payment:  20% ($18,900)Prepaid taxes, insurance, and interest:  ~$1,000 (not sure how to estimate this so this is just a guess)Initial Investment:  $22,900Mortgage Remainder:  $75,600Mortgage Interest Rate:  ~4.5%Mortgage Period:  30 yearsMonthly Payment:  $383.05Monthly CostsProperty Taxes:  $167Insurance:  $50Utilities:  $0Lawn Care/Snow Removal:  ~$50CapEx:  $100Vacancy (5%):  $61.50Repairs (5%):  $61.50Management (10%):  $123Total:  $996.05Total Monthly Rent:  $1,230Cash on Cash ROI:  12.3%Do my assumptions seem reasonable?

Another option would be asking for pre-paid full 4-month rents. 

You must place the prepaid rent into an account, and only "take" each momnth's rent as it becomes due.So, I don't know what benefit that is for you..?? 

As for costs other than your down payment, probably 5-6% or so including pre paid taxes/insurance.

Also included is 0.5% points and prepaid (12 months) of insurance @ $600.