Hi Krysten, the mid-term rental strategy can be great in the Charlotte area. 

There is no Mid-Term or a Rent by the Room style loan as of yet. 

And folks from the mid west would say 3 to 4k  and some would say 5k with most folks thinking these days 10k is enough.. and then just as you say work the math backwards at 300 a month which is pretty tough to make if your max leverage and you have your answer of how many houses you have to own and manage.

I wanted to buy a mid size apartment because of the scalability.

If you're unsure when you'll be moving, a ski-lease or mid-term lease might be an option.Truckee (City) has regulations on short-term rentals and a waiting list for permits.

With 700+ credit you should be able to get mid to high 6s if you pay a couple points and do a 5 year pre payment penalty.

It’s typically less risky and easier to manage compared to a fix-and-flip or mid-term rental, especially if it’s your first time dealing with property management and rehabs.

Currently, a decent house in Waco ranges from the low to mid 200's.

MInut has a low average review (mid-3s I think) on Amazon which is a bit of a red flag. 1 per room at a total of $60/month sounds excessive for something that is not likely to be a common occurrence. 

Unsure if this allows us to leave mid-year.