I talk to so many people who regret not getting a PM up front because they are having problems or high eviction rates doing it alone.

We are in a constricted market cycle, low volume, strained budgets, high costs.

Under Alabama law, that is a VERY dangerous play and you could end by losing money.You also cannot sit back and let him build the house and say "Thanks."

I end up spending 20k more than I expected.

We are NOT a fit for low quality assets such as C/D or uber high input such as sec8 or mid/large MFH.

I'm currently with an investment brokerage but my end goal is to be an investor and feel the big shoes my parents are leaving me with! 

You should find out what percentage of the rent is being paid by S8 and by the tenant.Tenants have to sign the rent increase and some won't because they don't want their payment portion increasing.It's also highly unlikely a S8 office will approve the huge increase from $797 to $1300.- BTW: the $1300 includes all utilities being paid by the landlord.

If you are looking to expand your knowledge I highly recommend the webinars BP offers. 

This highlights why it is also important to manage lease-end dates. 

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.