For example, damage done by tenants in excess of the security deposit, legal fees, evictions, capital expenses, advertising, etc, etc, etc.

Good tenants will often alert property management or owners if there are excessive noise disturbances or items in disrepair.

The Title company is charging me the following fees:-Admin Processing Fee $35-Closing Protection Letter $75-Lender Title Insurance $844-Notice of Settlement $40-Rundown & Record Fee $$20-Settlement Fee $325-Tidelands Search NJ $30-Title Endorsement Fee $$100-Title Examination $100-Title Search Abstract $167-Wire Transfer Fee $25Are these fees customary or is it excessive?

And we'll still have excess cash to do deals as well.

ASAP ideally, but I need a bit of non-9-5 income or excess free cash flow so as to not strangle the REI portfolio growth.

Use an FHA to purchase a home in San diego last year at 95% LTV and your return on investment would be in excess of 100%. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

@Kashif Ali Khan First, you'll need to make them aware through text, email and ideally a USPS tracked envelope that you intend to keep their security deposit (you should have collected this at the beginning of the lease) and all the excess damages. 

You have $5,000; based on your comments above, your parents aren't millionaires with excess cash sitting and you don't have a full ride to college, thus this $5,000 is important towards your college. 

To add the cherry on top , was the spiked punchbowl of free money which further resulted in the excessive bidding up of real estate values.