It costs the same amount to replace a roof or furnace whether the house is worth $300k or $30k (assuming a similar size).

I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

Also the cost of membership is exorbitant and I don’t think worth the money.

Since franchising takes some investment, I'm wondering if it's worth the investment or if doing a flip on my own to get experience is better.

I think the SMS automatons alone for GHL are worth the price of admission.

For what it's worth, I tried to run your numbers using the proforma I use with my CFO clients and I'm getting an IRR (average annual return) of nearly 23% (see page 2): Kalamazoo Properties

If your tenant has a credit score worth maintaining they will not want an uncollected judgment to be on it.  

I understand the hesitancy to lease to students but vacancy is so low, that if you can handle a few headaches, it's worth it. 

The mortgage is $1400 and the house is worth $250k.I did tell him if it is okay for him,I could take up the mortgage and he says he would get back to me as he also as a brother and uncles to talk with.The house is close to my work place as well.Please, does anyone has a thought on this?

I haven’t had it appraised so just going off Zillow the property is worth about $250K, so we have about $163K worth of equity in it.