Being taught about business from folks who lived in academia is practically useless.I’d hope a masters in accounting would give you more specialized skills that would aid with the exam and your career.My 2 cents. 

You should be able to qualify for 3.5% down FHA or 3% down Conventional.

I have a local California lender who remains a good friend and has been helpful with getting me pre-qualified for traditional lending. 

@David Mohrmann Generally rent comp gives lender to use that income of 75% but if you qualified with full mortgage payment the lender prefer to not use that income.

Looks like I will get to use my marketing and selling skills to find deals. 

We have a minimum income requirement to qualify for this unit (3 times monthly rent); based on your email, it appears you meet those qualifications.

We are looking for your buyers that don't qualify for coventianol loans.

If that is the case @Rob Drum is your man, he is skilled in setting up owner financing deals and finding some amazing dealsI have done several myself and can share the forms if you like, I will warn you can only do 3 a year and not have to conform to Dodd-Frank guidelines.   

Do we qualify for a 1031 exchange?

Thanks for the reply, I did find that if you are a first time home buyer you can find qualify for a lower down payment loan.