You are absolutely right, and this post is intended to be my first step toward achieving focus.

Gas is generally cheaper month-to-month than electric (at least in my area) but the initial cost is usually higher (also in my area).

My name is Bradley Cumming, and I am a freshman at the University of Northern Colorado in Greeley.My buddies and I are looking to start-up a real estate investment company that initially focuses on multi-families near our campus.

The best advice I've heard on the subject is to step back, when considering a tenant, and ask yourself if you would lend them $200,000+ in cash - if not then maybe you shouldn't lend them your property.

How do I initiate business proceedings?

It's a 3/1, which is honestly not in the criteria I'm looking for (3/2) is what I'm after...so really I should have stepped away in the beginning.

What have other fellow BP community members in similar scenarios elected as next steps?

Our goal is for this first Property to be a stepping Stone into the world of REI, buying more Properties and building Cashflow.  

My apologies but their is a serious typo in my initial post and I am unable to figure out how to edit my original post.

I have finally let my family know of my intentions and their initial reaction was to put me down and say that my goal was unrealistic for someone as young as I am and that rental properties are so much work that I will not be able to handle it.