With that said, the income can still offset the cost of holding the property as a long-term investment.

By the end of 2 years, I could save 50-60k for a down payment, closing costs, and reserves. 

Are you set up with a lender at this point?

.$140k offer8% interest rate20% down8% management fee5% vacancy5% maintenance 5% cap exI haven't gotten insurance costs yet but it's been suggested that I plan for $2k per year. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Their cost basis is about $33k, the agreed upon purchase price is $250K and the expected appraisal might be around $350k-$400k. 

Those situations go bad more often than not, costing you money and the friendship.

The masterminds often encourage students to finance the new-car like entrance fees on a credit card, on the promise of just a single deal covering all the entrance costs. 

I predict that the substantial home price cost savings and greater control they enable the buyer to have will make them grow in popularity.

I made the mistake of letting someone get in one of my first units that was a bit off the 3 times, they were great tenants very kind and enjoyed their stay and experience with me, but could not afford it when I increased the rent on them, which is something you will have to do because of rising insurance/tax costs.5.)