We would then find a local investor and partner with them on a deal.Issues I foresee:a) Working full-time, I worry about not learning a whole lot on the deal and not being able to make sure the money is spent correctly. 

I plan to move to the Austin, TX area when I graduate (1yr) and work a full-time job while involved with real estate investing.

Otherwise, if you plan to hire a property management company, I work for a full service management company and I'd love to help you out there as well. 

I'm also working with him on my own residence in Bloomfield, Essex county  on a full basement renovation I'm currently working on. 

He would get the full 8k lien unless you delay selling until you fight it out in court.

Consider also who will be collecting those when its full and the value of that time.  

You will manage your physical plant (the property itself) and also the Human Resources (the tenants).

Of all of the podcasts I listen to (mostly about multi-family investing) and people I talk to, I've only heard one person say that they aren't buying right now, intentionally.Now clearly, a 'deal' is something that cash flows or will make profit from day one.I'm not saying skip over a true DEAL.What I'm asking though, is if there are experienced investors who've been through more than one full market cycle, that have periods of not buying ANYTHING, even if there 'are deals out there'?

It might be a bit much for you if you'll be working full time as well. 

I can't argue that the area isn't full of potential with very good schools.