But don't take forever studying/learning before jumping in.  

My point is you really need to study your MLS stats days on market etc.

Farm an area, look for properties on the internet, take your time to look as many as you have the energy and time to do.I have done some posts on creative financing, search my name for those postsThis you will find will be your best education, study BP and read, read, read......stay away from motel seminars.........

Here is item 3 mentioned above1.Delivery of Property Information Items: Within 7 days after the effective date, Seller will deliver to the Buyer:a)copies of all current tenant applications and leases pertaining to the Property certified to be true and correct, including any modifications, supplements, or amendments to the leases (applications, leases, modifications, supplements and/or amendments to be made available to Buyer during regular business hours at the Property);b)current rent roll (showing lease rent, delinquencies, lease expiration and security deposits paid), certified by Seller to be true and correct;c)most recent 3 months bank deposits;d)a copy of Seller's income and expense statement for the Property for the last 36 months immediately preceding the effective date;e)copies of the Evidence of Insurance for all policies since the last renewal, including invoices, current policy, and copies of the last three years loss run from the insurance carriers for fire, hazard, liability and any other insurance policy that relates to the property;f)copies of all previous surveys, environmental assessments, geotechnical reports, studies, architectural, engineering feasibility studies, “as builts”, plats, or analyses made on or relating to the Property, including maps, plans and drawings;g)real and personal property tax statements and any appraisal notices for the Property for the previous 2 calendar years;h)copies of current capacity letters, and current utility bills from the property's water, sewer, gas electric, trash, phone and cable service providers for the past two years, or permission to access these accounts;i)copy of existing Property Management Agreement; a)payroll detail – 2012W-2s, YTD monthly, and most recent Y-T-D paystubs;b)a current inventory of all personal property to be conveyed under this contract and copies of any leases for such personal property;c)copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing;d)copies of all current service, and maintenance, agreements relating to the ownership and operation of the Property; including but not limited to: Laundry Lease, Cable/Satellite, Electric, Phones, Leasing, Commission, Advertising or other;e)copies of all current warranties and guaranties relating to all or part of the Property;f)current and past capital expenditures for the past three years;g)copies of all work orders for repairs incurred by Seller for the Property in the 24 months immediately preceding the Adjusted Effective Date; (work orders to be made available to Buyer during regular business hours at the Property)

I also work for a major apartment complex and a few classes away from my bachelors in Real Estate Studies. 

Yes, if they really want to  be in the business of real estate, they should have the brains to study real estate and not just chasing their tails with scams or step by step methods taught by gurus.

Studies in finance would suggest that variable rates may be cheaper still over the long term.

I am a 35 yr old public school music teacher.  

I need to get more information and study up.

If you rent to tenants under the Housing Choice Voucher program, formerly called Section 8, which I recommend, the rent you can charge is limited to what the Dept. of Housing and Urban development list in their annual Fair Market Rent study.