I know when I'm done with school I'd want to start investing right away into real estate instead of spending money on cars etc.

Just for potential notes: going by the numbers, the 4plex doesn't seem to have separate electric meters, both the fourplex and duplex looks like a roof replacement is due, some windows are boarded up (100% occupied)driveways would need to be added (currently a dirt lot)There is definitely room on the property to add another 4plex if zoning allowed (there is an apartment complex right next door so I don't see why not)even the third property has a good chunk of land behind it considering what the norm is here.There is a nice elementary school that is just being completed on the same street less than a few houses away.

I believe learning from the experience of those who have traveledthis road before me is the best schooling one can get !

She has a "contract" till the end of the school year but then there is summer vacation.

They are typically family, friends, neighbors, Doctor, attorney, CPA, other parents from your kids school, etc. etc. etc.My question to you is, why would you want to give up a high % of the profits when you can simply pay 9% or 10% straight interest?

Professionals do not begin in the realm as "investors" pulling deals as a system or under a program, they begin with a real education, formally instructed by qualified teachers, you can find these types at licensed real estate schools in every state, you also find specific classes at colleges and universities. 

If the deal is for $140k all cash (and you get $40k right back), you're probably OK. but any half-wit loan officer the tenant uses will see right through what you did, which is to artificially bump up the market history of the property to influence the appraisal and mortgage size the tenant is applying for.

Working class, average schools, very little Section 8.

I knew him in school and saw that he has become an agent like his grandfather, if I'm thinking correctly.

When you file your taxes you may have to pay school taxes.