If not you should consider cost of property management + tenants placement fee. 

Option 1 normal lease extension of 1 year and explain the lease break fee.

Also do you always use 5% or are there certain types of deals where you would use a different % to come up with a Contract Assignment fee? 

The two considerations I would advise is:Does Cozzy charge a fee to the tenant when making the payment? 

Like I am avoiding condo prop for big mgmt fees and costly insurance.

Here's my overall plan:I graduate in 2019 and immediately start working and building creditI live with my parents (they've agreed to let me) until I have a decent income from real estate.I have to go to college but I'm going community and my father has agreed to pay for my student fees so there's no concern thereHere's where it starts getting good...My longtime friend (since kindergarten) is VERY entrepreneurial and is also the son of a contractor and is planning on going into contract work.

I have mine in Fidelity and Vanguard no load, no fees and I can trade stocks & ETFs cheaply if I want.At Dow 26,000 I'd be dollar cost averaging out of equities honestly. 

Also, you PM fees will be astronomical (8-10%) compared to the fees paid by 100+ unit owners (3-3.5%). 

I like to see what people think of Redfin and their 1% listing fee.

I know a lot of investors don't like paying the fees, but on those early purchases, our agent saved us so much time and money and was an invaluable part of getting us off the ground.