My current plan, would be to pay the mortgage with rent for two years until i graduate, then to keep the property, and offer free rent to a trusted responsible friend that is younger to be a sort of manager and to make sure the other tenants are not destroying the place as they are college kids and see if i could do that for another year or two. and then work to sell the property and have hopefully of made a profit. id say as of right now i'm just dreaming. but do see this as a good learning experience and chance to get my feet wet. although i do not wish to do it if it's is not worth the time. so would this be a possible investment for me or not realistic?

Also this was one of the reasons why I move to another PM company because I felt that my prior one was not looking after my tenants and they were destroying my place.Just as a reference the tenant wanted to buy the property from me but I did not want to sell it so she started to request some repairs which we were attending but then she decided to move and let us know one month in advance......I just feel a bit frustrated especially when my current PM said they would do inspections but they are acting reactively once the tenant leaves and now I have to face all these extra expenses to fix the property again!!

If that's the case then it's cheaper for the tenant to destroy rather than repair.Always, as @Russell Brazil suggested, look at other rentals in your area and see what is customary.  

They become this fiend, this villain that could destroy you and is probably the hardest phase of all the phases.It is during the MOVING PHASE, that you must be cool, have all your wits about you and be prepared, yet still be cordial so as not to enraged the monster that seems to be lurking in your Tenant during the MOVING PHASE (as there is NO ANTIDOTE to calm the savage beast once it takes form).

Like Marcia said, tenants like that will use other means and destroy the asset (your property).

The big problems to avoid are vacancy, tenants that destroy your property, and tenants that don't pay their rent.  

You have a tenant that has violated your lease, are destroying your property, and you want them to move into a brand new unit. 

- As a result of the seller not being able to rezone it as 3 unit MFH, did the seller (or you) have to take explicit measures to lock the 3rd unit out, by destroying strategic parts of the unit, or blocking any gas/water access to the unit?

We have a temporary shortage of housing due to the floods last year, when around 120 homes were destroyed in our county.  

Just be sure to vet the renters well, dont rush into just putting anybody into the house for you run the risk of getting crap tenets who may destroy the house after you just rehabbed it.