Besides having a personal friend to mentor you, this is the next best place to learn.

We now use a form call the "Compensation Agreement Between Brokers for this.

you're competing against pros for inventory.hopefully this is helpful

What drove you to do this project?

They are making some changes in this corridor.

Or what programs can anyone suggest that would be best for this scenario.

You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important.

@Steven Cornell think of this scenario, what if you have a turnover and your cleaning lady quits that day.

This is going to bring my mortgage payments to around $2.3k per month. 

This also leads owners to ASSUME simpler is better when it comes to management contracts.