.: I recommend you invest between your two ears as much as possible, whereas 20 K is not going to get you very far in and of itself.I have a masters (student loans paid off) and read 8-10,000 pages a year.

Plus the amount they paid just about paid my mortgage.

Does he and his roommate understand the rent must be paid in full each month and they are both liable if it is not paid regardless of who has or has not paid their share?  

--I would agree that this market has opportunities for seller finance as a record number of properties in the US are paid off. 

The property now cash flows $4,550/mo after all bills are paid.

This tenant has paid $3900 or more for the option to purchase the property within a 3-year timeframe so they are often a more invested tenant compared to the average tenant

. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

But, I was once a paid preparer and prepared or supervised the preparation of tens of thousands of tax returns and I saw some pretty stupid self prepared mistakes.

That would be a separate mortgage and not what amounts to a second loan on your personal residence, which if you have spouses, they might not be that into. 

@Richard Rafferty, given the relatively small nature you are looking to take on with your first syndication, personally, I would find it hard justify the typically 20-30k+ for a paid mentor.