A friend/relative that has either cash or equity that would lend it to for 6-8%?

Regardless of your FICO, you will need cash money to be able to invest in holdable real estate.  

The covered parking area and patios should have adequate drainage to prevent water accumulation and potential damage.Investment ForecastPurchase Price: $849,900Total NOI over 10 years: $308,782.13Year 10 Value: $1,256,336 (based on a conservative 4% appreciation rate)Annualized return: 6.30%ConclusionWhile this property is poised for appreciation, sustaining it over several years for substantial returns would require substantial financial resources due to high debt servicing costs and negative annual Cash on Cash (CoC) returns.

. ~1.1 M in cash).What is the best time to buy the replacement property?

There are some situations where a well-seasoned investor can borrow 100% of the purchase price and come out smelling like a rose, but only because they have the experience and they can absorb the loss if they screw up.Increase earnings.

Once I built up enough cash, then I became a buy and hold landlord of single-family homes. 

So, with no foundational knowledge of real property, and no capital, his only alternatives are (1) “bluff” the homeowner into thinking he has the money and intent to close the purchase himself and or convince the homeowner he has an extensive list of cash ready interested buyers (“partners”) with whom he’s done dozens of prior deals or (2) pack up shop, write off the money invested in mentoring to a worthless investment, and decide IF real estate is right for home.  

They have some low down payment 1-4 unit investor programs that can reduce the cash needed (equity line amount) to close.

Cash out refis ok, but may result in slightly lower loan sizing. 

In your shoes, it might be simpler to stay focused on grad school and use your cash to lend to other investors or take an LP role.