I just don't see much risk with the situation I mentioned above, unless of course I am completely without a job and wasting away my saving. 

I'm in the game and taking action....thanks to BiggerPockets for the great resources and connections like @Bill Hampton, who helped me to set up my investment LLC.I look forward to quickly renting this unit and saving up for a 3rd home to add to my rental portfolio.

I am pretty sure I take all the deductions I'm due and I've vehicles such as as solo 401K, self-directed IRA, Roth, etc. but I think I might be missing out on larger-picture strategies for investing and tax savings.

I am currently living below my means, and have almost 9k in savings, but I am trying to think of clever ways to expand my means.

Being an agent give you an advantage to finding more deals and ultimately helping more people, that is why I work as both.

So I'll be marketing as a FSBO on free outlets such as Craisglist and Zillow to save and gain a larger profit.Tell me if I have this right: After I get a buyer, I have the new buyer sign an "assignment of agreement to sell real estate" which state that the new buyer will give the seller the amount that I agreed to pay then and the remainder (listing price - my buying price from seller) would come to me.

Thanks  please check with union savings bank.. my primary had a $500 closing cost with them.. they were .25% higher than the cheapest..

Have you considered other options, like saving up some money for downpayment?

I'm thinking worst case scenario, I don't rent it out to anyone, my holding costs go down to around $1200-$1300 if I don't save for any repairs/cap ex and utilties much lower, and then each tenant I put in would just make it much cheaper for me to live for free! 

However, I do know that I want to get into properties as soon as possible perhaps when I graduate so my plans right now is to save, network, find a mentor and develop my understanding of the game.