I'm also fairly sure you'll have trouble finding a tenant that can afford $2,650/mo rent in the area. 

From my Fair housing attorney:“Did you see that Saint Louis Park passed an ordinance that anyone buying a property and raising rents or giving notices that have an adverse effect on affordable rents – will have to pay cost and relocation of up to $4500 per tenant?”

I also want to test being a real estate agent (I'm fairly young, 25 y/o).

I think I have represented myself fairly well on BP over the years and I am at a place in life where I do not need to impress anyone. 

Nothing to lose by trying to fair a reasonable price.

Such expenses can include travel to and from a property, out of pocket costs to make a property to look presentable and any cost to a broker to maintain a license.Since she is considered self-employed - she may be eligible to put a large portion of her earnings towards a retirement account.Since you plan to acquire more properties - you should make sure the depreciation is calculated correctly.

I have been involved with flipping and RE investing for some time but I'm fairly new on BP as well.

Using the 1% rule I thought $665k was a fair asking price.

College Park/East Point is still fairly 'block by block' and each neighborhood can be different, but there are a lot of positive indicators in the area.

If your policy has an 80% co-insurance clause it means that you must maintain a limit equal to or great than 80% of the actual cash value.