An example is deeding a property valued at $100k from your name to your LLC or vise versa, you're now writing a check for $4,278.00 just to cover the tax payment to record the new deed, not including the recording fee and any fees collected by the title company or attorney representative who facilitates the transfer. 

Books I am reading currently include "One Thing" (re-read but for sure top 5 book of all time) and the "The 7-day weekend" which is a contrarian way of thinking about business. 

Should the time 0 investment only include the cash investment (down payment) or the full purchase price (down payment AND mortgage amount)?

Lenders will look at metrics for the property itself including the purchase price, repairs needed, and ARV as well as borrower experience and financial standing. 

Hi BP,A deal that I'm currently working on has the potential of involving 2 separate partners, not including myself.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

So you are exceeding 1% on the structure costs only and not including any land value.  

A few neighborhoods that are a tier below the west end and that would probably make more sense for you when running your numbers would include Montrose, Chesterfield, East Highland Park, Colonial Heights, and Sandston.

If you do a long lease, make sure you include periodic increases.

@Jason O.I've rented to over 700 students (under and grad) and I understand the market well.To do it successfully: time it with the academic calendarSept to May: flat price including utilities and furniture for max revenue, can include a cleaning service to keep an eye on the rental.May to Aug: depends on your city density and the amount of summer classes, increase the price to accommodate the demand or decrease it accordingly.