You need a person who knows the market and properties to help safeguard you from such mistakes because on this one listed I don't know how you can survive it.

Your safeguard is the property.

If you are looking to bring in outside investors, you are missing a lot in terms of flowing in fees, pref, splits, etc.I also, personally, like sensitivity tables built into models: exit cap rate, rent growth assumptions, vacancy rates.  

Im a trader brian i spent my whole life trading interest rate sensitive products, I've never been a landlord so Im not acting like I know everything here, Im just seeking guidance and figured what better place than a landlord forum.

It is a very, very sensitive issue for tenants.

This can have negative repercussions, such as the note holder calling the note due based on a violation of the “due on sale” clause in the mortgage or deed of trust; the property buyer not making payments and the seller still liable for the mortgage; late payments going on the sellers credit report although it’s the buyer whose late; and various problems with liens, taxes, insurance etc.Many partial safeguards can be set up to lessen the effect of these problems, but none will eliminate the potential of these problems.  

I wouldn't buy anything now with the intent of trying to get it rented before the school year (or even spring semester).Student rentals are HIGHLY time sensitive in my market.

I may be sensitive to this, but children need life insurance for multiple reasons.

Even if the majority of your assets will be in this deal now, if you are successful, it won't always be that way, and you will also want to start safeguarding your assets from each other as well.  

Against the modern trend I would recommend a glue down LVT installed with a quality pressure sensitive adhesive.