I'm living in a home, that I've gradually renovated to some degree, initially for the purpose of establishing a rental unit.

Tenant agrees to comply with all duties required by Wyoming Statute §1-21-1204: maintain the Premises in clean and safe condition and not unreasonably burden any common area; dispose of all garbage and other waste; maintain all plumbing fixtures in a condition as sanitary as the fixtures permit; use all electrical, plumbing, sanitary, heating, and other facilities and appliances in a reasonable manner; prevent water pipes from freezing by turning off outside spigots, disconnecting hoses, and keeping the rental heated to at least 50 degrees; replace lightbulbs, air filters, water filters, and other consumables as needed; test smoke detectors every six months and replace batteries as needed; immediately notify Agent in writing of any defects or dangerous conditions Tenant becomes aware of; replace broken or cracked glass, no matter the circumstance of breakage, unless the Tenant provides Agent with a police report detailing breakage beyond the control of Tenant; pay to repair anything damaged by the Tenant, his guests or invitees, whether through intentional act or negligence; upon termination, remove all personal property and garbage either owned or placed on the Premises by Tenant and clean the Premises to the condition at the beginning of the AgreementCreate a policy and stick to it.

Someone with some good experience, I would anticipate 10-12% interest only for 6-12 months with varying degrees of lending to ARV.

And, to what degree of searching? 

What is worse, going $100k in debt from college and getting a degree or spending $50k on a training program taught by a guru?

I had a finance degree and was a registered investment adviser for 10 years.

While I'm not a legal professional, here are some general considerations that might help guide your decision:If there are any legal problems pertaining to the property, an LLC might offer an additional degree of protection for your personal assets.

I recommend you use your time in college to study not only for your degree but study what's really required to invest in Real Estate.

If we treated the interior of the walls, the smoke smell might revive during some 90 degree day in July. 

I ultimately decided to leave because once I had to transfer to a university from my local community college to gain the 4 year degree the thought of going into student loan debt didn't sit right with me.