In my opinion it's smart to track the numbers and practice different scenarios. 

During the process I was laid off from work and have relocated to another city until renovation is done and my new job has materialized.

Right now I’m going to college and working full time and living with my parents, my college is paid for so I practically have no expenses.

Forgoing more lucrative private practice in order to be public service.

Then my payment would only be around $1284 - 900 from the tenant = 384 month, practically living for free.

When you practice this principle consistently, people recognize that you are someone of integrity and they trust your word.

@Jed Haslam-Walker Hi Jed,Thank you very much for your advice, really useful, a lot of information to process and many best practices which I had no idea about.

I have always had a very strong interest in real estate and plan to invest in rental properties in the future.Part of my desire to attend law school is to be able to practice as a real estate attorney.

I've read nearly every biggerpockets book, listened to nearly every podcast, joined a local meet-up, and spend hours on Zillow and Trulia practicing property analysis on local properties (mostly in New Castle).

Plus if you relocate to another state it should make enough to hire a Property Manager to take care of the property for you.