The rest however, generate $11k-$12,500K a month in gross rent.

The wood flooring in the rest of the apartment seems to be fine.

@Ludmila Hill  just as an aside  I can see why folks would gravitate to this company they are offering rates for HML in the 7s... this is just not market rate for Texas OR NV.. its market CA or 8 to 9%.. but for the rest of the country its too good to be true..

The 2X10 joists have a notch cut out of them and they are resting on what appears to be a 2X4 or maybe 4X4.

The rest was parents paying, student loans, grants, scholarships, etc.  

I then took out a home equity loan and paid them their part and used the rest for whatever I needed.

If you buy with all cash, and the market drops, you're cash in your property also dropped since the property is worth less than you paid for it.If you only spend a down payment, and finance the rest, that drop doesn't impact you since what you have established is a cash flow situation...that isn't impacted by the drop in property value.

I draw from the rest of my commission as needed. 

This is every night even on the weekends.we not spring chickens and we need our sleep.our rest is broke every early morning at 3:30 4am on until like 6am not cool.”Not exactly sure how to deal with this situation as above unit has a elderly tenant that is supervised and does need 24hr supervision done by son that pays him through family assistance program in NYC.

A book is a good way to get an overview, but for the rest of it, nitty gritty, experience -- yours and that of other hosts -- is probably more on point.