So cash flow is key in this situation, and then location and property quality are important factors so you can sustain that cash flow. 

., paying a realtor one month's rent to get a quality renter.Make sure you double check with your realtor about whether you can get $1300 a month for that neighborhood.

I have found uncomfortable to be much more lucrative Pick a listFSBOTax Delinquent NOD ProbateNOOEtc...Pick a method to find themOnlineDrive for dollarsDoor knocking Listsource Referral PPCEtc...Get in touchDirect mail(100s of different type)Email Cold call Door knocking Etc...Best of luck!

@Dennis It's more of a quality of life play. 

Any thoughts and advice on using this method would be great!

Saving money is the easiest method to get started on your own.Money makes money.

Since I will be attending graduate school upon acquiring this first deal, I'm looking to find more of a turnkey property to both have experience with a first deal and also to utilize a creative method of paying for rent during school, I just won't have the time that I'd like to do hefty renovations.Any and all suggestions would help!

In general, buying using the method you are talking, will yield the least amount of cash flow per month and the lowest returns (other than cash).

You might want to double check on the quit claim deed transfer method - usually is not transferring the title insurance.

That is the other issue, I can doing the refinance to get the cash out of the property to buy another - BRRR method.