Apparently my design was too elaborate and the building cost was excessive for what i am trying to do.  

It seems to me there are a multitude of options but this has been the winner in my mind.Pour all your excess income into your student debt until November.

What happens if there is an excess in the escrow account?

Seems a bit excessive considering the value of the property and what its pulling in vs what I'm asking for.  

I know the $250/$500k rule after two years but I am trying to find out if you reinvest the gain that exceeds that into your next primary residence if you still must pay capital gains tax on the excess.

Multi-Family Property Class C: Properties that provide functional housing; exhibit some level of deferred maintenance; command below-average rental rates; usually located in less desirable areas; generally managed by smaller, local property management companies; and tenants provide a lessstable income stream to property owners than Class A and B tenants.Negative Amortization: This occurs when interest accrued during a payment period is greater that the scheduled payment, and the excess amount is added to the outstanding loan balance.

I would start saving for a larger financial runway, an excess of $25k in case of emergencies on your rentals, after your unload your place. 

I personally expect a lot of more return since the time spent on this project is excessively long and $/hr analysis suggests it can be way better.

> Do any of you have limits on the number of cars per apartment and do you have a fee system for cars in excess of the limit?

One major repair will tip the scale.Additionally your excessive amount of equity is farther reducing your true cash flow.