People have brought up interesting ideas to help you get to the next level.

For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.

I would have been ok with the latter numbers because I have been stockpiling materials for like two months, but...I did not know if I could trust them due to the lack of "professionalism," and my lack of experience. 

Hulk Hogan Gif's are Scientifically proven to increase the fun level of any type of forum.

I've been able to close over 400 deals for my clients in the past few years, and we are constantly working with the same clients who trust us repeatedly.

While the image of yours I found seem to show the main entry to the 2nd floor at ground level, the older the prospective tenant, the less interested they are in a non-ground floor unit. 2) Using another part of the property as storage could limit interest and I could see that as a turn off with folks once they find this out.FYI, the listing I found on realtor.com makes no mention of the tenant not having access the entire property or the basement being used as storage.

There is no such absolute rule or mandate for REI - it is up to you on your comfort level with your cash flow versus total investment versus appreciation potential.If I followed that rule, I would have missed out on a LOT of great opportunities over the years.We bought a house in Jones Valley in 2017 with negative cash flow - why? 

On top your due process, my advise is to trust your gut when vetting tenants.

Depending on your income level, you may be able to take some losses on your return.

the good news is that you're in the middle of a "masters" level education at this point.