One thing that I can tell you and I can't stress this enough, is that you need to physically go to Huntsville, drive the streets, and break bread with the people you are working with.   

After putting in a lot of time, finances, effort, and stress into rehabbing that side, even getting scammed by my first contractor, I’ve come to find out that the conversion has expired permits.

Here in the Milwaukee area we've helped recent college grads and even students still in school seek out investment properties to ease on the stress of rent payments as well as for their student loan payments. 

The 50% rule typically includes capex at 200-300 per unit.  7% vacancy sounds good for a business plan, I would also run it at 10% for a stress plan.

We live in a society where we are taught at a young age that debt is bad, so these are the traits that I have raised my son.

In periods where there is no leadership, society stands still.

You will be better off time and money wise I bet, and you wont have the stress of dealing with it for the next year.

When I finally went "all in" on REI it was during a perfect storm of events & stresses, so it started with the emotional and ended with the practical:- I was disillusioned and frankly heartbroken by events at a prior employer so I didn't think I could work for someone else ever again.- I wanted to keep the yield of my labor/ideas, take control of my future, live through my efforts and rise or fall on my own merits.- REI was the only thing I could start doing right away, which I was also already somewhat familiar and could also provide enough income and growth to secure a financial future.

@Caleb Heimsoth I believe those fees are write-offs and aren’t they less expensive, time consuming, and stressful than losing my house or other properties from a lawsuit?

@Joe Pearson you could do it, but why live with THAT stress every day?