save your money... do not borrow at your age until you are fully capable of repaying and you have significant reserves... this is where I see a lot of investors get in trouble.. they don' understand that you need reserves when you own rentals.. the more you own the amount goes down.. but you could go broke quick being undercapitalized to start. 

I'll start off by saying I'm a 19 year old female who often gets mistaken for a 14 year old female, so I'm not sure if my age/appearance would be a disadvantage.

One of those situations is when the tenant is over age 62 or disabled and has lived in the unit for more than 10 years.

What is the average age of the other homes?

@Dana Yobst due to the age of the building it's going to be tough to find an Insurance Carrier that will do replacement cost unless the property was gutted and everything has been updated.  

He is my age and just closed on his first rental property.

Since your in New Mexico, what's the architectural style and approximate age of the house?

We first reached out to originators for Freddie and Fannie and were told that the deal looked great and we should be able to get the following terms:-Non recourse loan, 80% ltv-30 year amortization-10 year fixed rate-4.25-4.5% interest rate-Interest only payments for the first two yearsFreddie has since come back and passed on the deal due to our market being too small and the age of the property (1984).

That's right, zero.List of super successful people who didnt have a college degreeMark ZuckerbergBill GatesSteve JobsMichael Dellmy granddad (no high school)The richest man in China (no middle school i believe)this one dude i know who everyone said was dumb, but he has 2 successful stores selling used appliances and just bought his wife a new benz suv at the age of 26. hes got more money than any college grad i personally know.And millions moreOne of the biggest things i've learned in life is that having anti-college beliefs is one of the TOP indicators for financial success, and being pro-college is a TOP indicator for financial mediocrity or worse in the future.

We inherited a tenant who is month to month, but actually has 4 people in their unit as well (Mom and 3 Junior High/High School age kids).