Your analysis is missing operating expenses.If gross rent is $1500 assume expenses including management to be 50%So you get $750 per month Before making the mortgage payment.You will have a negative cash flow of (-$650) each month.I would suggest you look at developing your investment skills to recognize a positive cash flow opportunity using your $40k as a downpayment & reserve.  

What you ask is all relative to the project , and desired time of completion , plus your own skills .

I'm planning on talking about the opportunity (size of the market), my skills and why I would be able to bring a unique value to the industry and also how much I need and what I would do with it and how much money I think that I would make in the first year. 

There is a great medical district with numerous hospitals, we have a # of colleges nearby, and the quite a few businesses moving in and around FW.

I'm doing a school project and need to jot down the 5 most important skills and 5 most important abilities for our career.

At this point, I have a modest resident salary and a host of medical school debt.

One would want to define a market then look for TK in that market..although being competitive as it is turnkey is generally all priced the same in each market.IE 6 to 10% COC these days.. for safe secure investment.. you go higher and you tend to go into a little rougher areas.so just depends on your skill set and level of risk.

There steps that require real work and savvy people skills mental toughness.

Now I'm not saying that I'm not capable of accomplishing some of these things, I'm just saying that going into REI with any kind of skill-set pertinent is definitely a plus!

But it’s a skill I don’t have nor do I have the time to learn.