I know many landlords who do so through non profits, religious institutions, and so on. 

@Tyler BaldwinAgreed on your points, except on your belief that my client could have erased $100k this year.

Also realize acting as the GC is work and takes time.My own belief is that if you are doing this one time, hire a GC. 

I hope you find a helpful tip in this link: I quit my CPA Job to buy Large Apartment BuildingsIt is my personal belief that if you want a make a change in your life you have the power to make a choice to change.

Contrary to popular belief, Baltimore is one of the best rental markets in the country.

There are few things more corrosive than the belief on the part of your tenants that you are getting rich off of their rents.

But contrary to popular belief, it is not just one number; rather four separate components: (1) New jobs, (2) Unemployment rate, (3) Average hourly earnings, and (4) Employed.

My initial models show that I would basically be breaking even on the cash flow, so this is a play on appreciation and my belief in the area.It is also a new build with a 1-year warranty.I'm struggling to overcome everything I've read about the 1% rent to home value rule of thumb vs. my personal belief in the long-term potential for this property.I'm trying to balance the risk and long-term potential.

Second, I would follow that budget religiously and make the student debt go away in the next year or two.

Is this concern valid or is it just a limiting belief?