I was curious if this is a good idea.

I would caution on having a high deductible / inadequate coverage policy with a property in Athens.Dan, a comment you made that I don't concur with is the cap ex on a new build of 300/month, unless it was a low quality builder (I have no idea who the builder on this property is). 

I know this is a differing topic on the forums, and online in general, but having the legal background/education and knowing estate planning concepts you'll realize it shouldn't be.  

That sounds like a good idea.

However, normal wear and tear (like some dust or minor carpet stains) shouldn’t count.It’s always a good idea to take photos and keep a record of the condition before the tenant moves in and after they move out.

@Caleb Brown I like your idea about buying as many properties as possible while we're young.

These are just ideas I have been asking myself.I think if I could just pinpoint a direction I am confident in, it would make things so much easier to focus and really strive toward.

I like the new construction idea a lot.

The owner was open to the idea and outlined their terms and conditions.After several weeks of negotiations, we reached an agreement, and the seller signed a binding contract.

Tell us more and I'm sure the BP community will have some great ideas for you