I would need to constantly be able to keep an eye on it, and also be sure my employees are being honest.

Life tends to be a constant game of meeting and changing expectations and when you take the first step in RE investing as, "I'm going to move into this 4 unit" you're stepping off with a great foot AND you are using the "silver bullet" of low down-payment financing the best it can be used.The primary additional benefits I find with 3- and 4- unit properties is diversification and economy. 

I used 3 contractors, I had to babysit them constantly for paperwork and scheduling.

For those who offer joint ventures, do you assign the note to the capital partner?

You have a cap gains exclusion on your primary residence for Up To $250k each if you file separately or $500k if you and your spouse file jointly.

I constantly see money left on the table with these large companies.I will say that I manage STR's for owners in my market so I am biased of my own management strategies. 

You won't develop a good reputation (no one will want to sell to you) if you constantly offer asking price and then hammer them over every nut and bolt.There are so many offers on multis here that all of my investors are taking the properties as-is, doing a pre-inspection with their contractor or at least including a limiting clause in the contract to show they are not looking to nickel and dime the seller.

Here is my game plan going into it, should I ever land a student rental:A Joint and Several Liability clause in the rental agreement.

@Ayo O If you are constant working with them on contract basis and probability is higher they keep hiring you that won't be problem.

Unless you're willing to invest in the equipment, constantly look for even somewhat skillfull people and hire an experienced manager (since you have none), I would focus on your own projects.