I'm 21 and less than 4 months away from graduating; I graduate August 22nd and I count every single day until I get my degree in Organizational Management.

In this case, would the seller financing be counted as mortgage boot?  

or does anything beyond the first months rent in CA count as a refundable security deposit? 

They required 2 years W2 income to count toward a debt/income ratio.  

(I currently have 2 rentals, but they don't really count because I have a PM manage them)Beyond the "you need to work up to that level" advice, what other advice or pitfall warnings can you give?

high unit count.  90+  .  

I have lost count of the number of times I've inquired about a property and haven't heard back. 

Through the years I have gone through more of them than I can count.

If I get a property under a land contract say for $100k and the monthly payment is $700, will the $700 payment pay down the $100k?

I have actually heard some people who go this route that pretty much count on the new owners defaulting at a somewhat high rate.