If you're high volume, looking at a ton of properties every week, or not so strong on the title end you're probably best off using an auction service.If you're only doing a smaller volume and comfortable with title work you may be able to DIY.Most people down at the auction are using one of the services.

Deferring payments until the end would only be an option on strong deals, for most lenders.

I don't you would be gaining enough in equity to make it a smart investment, so you better be getting a good enough deal that you could turn around and sell it for a profit once you get the rents up or you better have a strong case for it appreciating.  

You need to have your tenants/students commit to 12 month leases (I strongly suggest May-April), there is also significant scales of efficiency by owning multiple student rentals.

The benefits that influenced me to get my license the education of course as I like to have a strong knowledge base in whatever I do, the network of professionals that I'm now exposed to, and of course the savings since now I won't have to pay an agent for the transaction during a purchase. 

I would strongly advise against you entering the arena of rental properties.

.- Most importantly, she is only 1 block from my house and she always answers her phone so getting hold of her is easy.Based on the above, is she considered a strong candidate?

Its actually still a very strong market here in Midland/Odessa, Texas.

On my in between stuff, I usually don't advertise it, and then when they ask I say one months, and let them negotiate it down to half if they're strong on everything else.

There are other threads on cross-border accounting on BP that also give some recommendations of accountants that others use for their cross-border investing.I would strongly recommend consulting an business attorney knowledgeable in cross-border entity creation as well that can help guide you regarding the pros and cons of operating as an entity.Business trips are absolutely tax deductible as long as the expenses are reasonable (see Amanda Han's recent book - it's a good primer on real estate taxes).