A member was going to study the coursework and then not take the test.Many people jumped in and said the coursework is a waste of time if you aren't going to take the test.

I'm trying to minimize the down payment so I can still have an egg leftover to deal with CapEx/anything else that can go wrong in my financial life.

Don't waste your time doing that.

I definitely would not suggest an ARM unless you know that you are going to sell within 7 yrs.Also, refinancing in the "upcoming months" is a waste of money.  

This loan has my attention because of the minimal out of pocket money needed for a down payment. 

You'll likely end up paying some tax but minimizing it and putting yourself into a more conservative less leveraged position using some strategic avenues.  1.

Any advice is greatly appreciated.David,Here's what I do for my multi-family buyers:Yes it is hard to estimate for maintenance because of a lot of variablesBut I know its expense is less for more units, for things like 16+ unit buildings, onsite maintenance room for storage materials, onsite employees use less hours to do work ordersSome entities even volunteer their residents to pick up grounds, hence minimizing your maintenance costsIf hdsupply.com accepts your account they specialize in multi-family buildings and you don't have to use man power for delivery or pickups And yes, you can do analysis paralysis but it might help you the bank's formula DCRThe 1031 buyers look at expenses differently Yes there's a number per door, e.g. if the units have been neglected you will spend at least one month's rent in turn ready unit expense    An organized well lubricated team should turn ready units in 2-3 daysPay close attention to the human factor, i.e. low self-esteem employees who will take longer to turn ready units or do work orders with poorly workmanship, theft, etc In capital expenses, concentrate in a few and more expensive to start with, AC, plumbing, electrical

I currently am wasting away my money paying nearly $800 in rent at an apartment.

I would think that the line would be drawn at wasting their time.

I agree with the others that you should hire an attorney to aid with the eviction process.However because you only have one rental property it seems like a huge waste of money to hire a property management company.