The drain field did not pass inspection so a new one was put in.

Austin will not see a major effect of the that in the housing market due to numerous reasons.

Your Cash Flow analysis is lacking numerous key expense categories (Vacancy, CapEx, Maintenance, Property Management, etc.) 

Ironically, it can be difficult to obtain loans for a property as an agent because lenders are leery of the self-employed with commission income, however, if you finish college, get a good W2 job, and have decent credit, lenders will line up to give you money, assuming that you are going into a field that is in demand.I admire you wanting to start investing at a young age, I wish I would have started investing in real estate in my early twenties instead of misspending my youth on debauchery.

I've found a couple options with early morning/late night hours that would allow me to still do my job as an agent full time because I have read that it is next to impossible to become successful in the field if you're just part timing it.

I have found that numerous people are getting the impression that you don't need any money to get into real estate investing. 

I have attended numerous RIEA meetings in NY and have only been able to connect with sales brokers and wholesalers.

This also doesn't take into account how long it will take to find a long term renter, I have been told by numerous PM that the demand is there and rental vacancy is less than 1%.I am looking to use this home for long-term rental and have found that the average monthly rate is between $1,500-$1,800 / month.

Let those experienced in the field that do it every day give you their 10 cents worth.

OK, so I know people talk about this all the time and everyone has their own opinions, but two separate individuals that I highly respect in the real estate field told me that mortgage rates are going up by the end of next week.