@Lucas Schlund not seeing oversaturation in Metro Detroit, but there is some up in the Traverse City area - which implemented STR controls.Yes, it's always a good idea to buy an STR property that you can at least break-even if you have to turn into an LTR. 

Others who focus on CoC (I focus on IRR and EMx) will probably comment as well, but most "good" CoC returns are in the 6%-10% range.Out of curiosity, did you buy the property for $75k and is the ARV $130k? 

I also tried calling their support line for listings, but no one answered.To investigate further, I re-listed the property with identical information but without paying for the premium $29.99 option.

The median sale prices for 2-4 unit properties in these counties is $775K.

If your student loans are only 3-5% interest, that's pretty good so I think it's okay to pay those off over time.It sounds like you're making good income with your current employer and there is room to grow, so I'd plan to stay with that job until you can pay your high interest loans off and save enough for a down payment for your first property.

Most lockboxes out there are not validating IDs when there are showing requests so it only takes one or two bad apples to land you in hot water with the owners. 

The property was in a high demand location, so it made no sense that it would be half empty. 

This could make it challenging for an appraiser to value and therefore difficult to get a loan against the property (or sell to someone using a mortgage to purchase).

Barely, but I guarantee they will be in better shape 3 years from now than a 100k property in a high crime area.

You will require many properties to completely replace your income, which could become a new full-time job to manage.