If you haven't already, I'd HIGHLY recommend buying the book Long-Distance Real Estate Investing by David Green.In regards to your comment about house hacking, it is a NO BRAINER financially to house hack, if you fully take into consideration the pro/cons.

Was that something that went into consideration on your multi families?

One consideration I'm aware of is what class the neighborhood is.

When you tagged me to correct my suggestion, it was halfhazard and didn’t reflect a considerate reading of what I had written.

Doing that first deal with that much cashflow seemed like an easier way for me to pull the trigger.  

Just a side note: take into consideration each part of your potential tax liability including the 3.8% Medicare Surcharge Tax.

I am currently a college student, and I would most likely want to live with young professionals when it is time for me to pull the trigger.

Find one you like and pull the trigger. 

I would pull the trigger on something with a rate like thatI closed on a triplex today at 3.25 and thought about waiting to get a better rate but the numbers made sense on the house so I went with it.Be cognizant of all of the residual fees that come along with condo ownership as well.

But I do encourage you to shop around because pricing on Management services here in Surfside, Garden City and the Myrtle Beach area vary considerably.