If you think it's expensive to hire a professional, try hiring an amateur.There's nothing wrong with wanting to help a guy out but this was a bad decision to try and save a buck.

Does the 50% rule apply in DFW markets (Save half for repairs/expenses, pay the bank from the other half, remaining cash is actual profit)?

Raise the rent a bit too and promise a closing in 6-12 months. 9/10 the Buyer can't save and isn't ready to close thus forfeiting their down payment. 

But first a brief background:  I've been a BP member for nearly a year, and just went pro (scored the 'old price' savings!).   

Or in this case may save your hard earned principal you'll be putting at risk!

Then check out Buildium, its a more full service property management software, which means it costs more, but should save you a lot of time and included rent collection online. 

You work hard, live a conservative life style, save every penny and the money will come in time.IN your case give yourself a couple of years of employment after graduating and see where you stand.

I just potentially save time.

I would take that saving and beef up premises liability to 1 mil. 

The last thing I want to do is skip out on what is probably the most important expense for a home to save $1000.