I think that you're correct: in this interest rate environment, small variations in costs like the ones you've mentioned can easily eat up your cashflow.

This will give you a nice nest egg to start investing during college. 

However, you will never get the value from yourself and your time (and lack of experience and knowledge) than you can with a great local resource who lives, eats, and breathes real estate sales and stats.

I'm just eating popcorn and drinkin' beer.And @FR W. there's no way you are a licensed Psychologist.

Don't eat the yellow snow.

Guests are there to do things like hike, visit museums, go out to eat, etc.

For that price range a condo might work due to the lower acquisition cost, but @Jeremy Kloter is right that the fees will eat you up! 

Personally, I would eat the money up front to get someone on schedule asap and work with either the bank or the seller for a credit at close.If there is roof damage, that would be an insurance claim on the current owner's policy. 

I also dont want to take out a HELOC because of it eating up my cash flow and end up being net negative.

I also dont want to take out a HELOC because of it eating up my cash flow and end up being net negative.