Rents and interest rates will rise, causing investment earnings to rise as well, and the apartments will gain value over time, enabling principal growth even at a 10% withdrawal rate.  

The 40k job adjusted for promotions and increases even with inflation will not allow you to save much at all.You could also go into business for yourself and get an SBA loan putting 10% down.

Once interest rates rise, prices will have to adjust because there will be a much smaller pool of buyers outside of Hyde Park and other foreign buyer enclaves.

Appreciation is icing on the cake and your property should keep up with inflation over the long-term. 

We were called crazy for providing such "inflated" capex numbers.

I specialize in luxury residences, condos, hi-rises, and investment properties in the Miami markets.I am fluent in English & Spanish – and work with many international clients. 

You could try an agent too but I'd be a little skeptical because I know there are a lot of really great agents, but there are also a lot that will tell you an inflated price to make it look like a better deal & make a sale.

Just wanted to give them a hint of the potential rise in market of the surrounding areas.  

A little background: I'm a 21-year-old rising senior at Clemson University with about 20k to invest.

It's economy is actually pretty steady, it is not as impacted as much by outside influences, low price point for homes, 60% rent market, local, population has increased steadily along with income (follows inflation).