Section 8 is not guaranteed income - only the portion provided by the state/city. 

One strategy to consider to boost the rental income is to rent out by the room. 

Not to get rich or replace my income with real estate.

Did you make Personal Guarantees?  

All figures are generated for illustration purposes only and do not reflect actual figures of any of our current/past transactions.Questions:1-If our debt package requires 3 months of prepaid P&I ($15,000), should we increase our Sources & Uses schedule to account for this figure, or do we anticipate the property to perform & simply borrow funds short-term from ourselves or 3rd party credit until operating incomes can pay back the short-term loan?

It all boils down to how commercial real estate works: your net operating income divided by the cap rate determines your property's value.

I understand all of this, but I’m 22, and I know for certain with my income (and my backup job) that I can have a property paid off in less than 3 years.

All income and expenses will be handled by the LLC.

Many more opportunities are coming our way through commercial real estate brokers and our work on off market deals direct to seller, but the pricing expectations are not in line with the reality of interest rates and our investment return requirements given the current state of what our investment partners are now demanding given how high returns have been driven in "risk free" assets like MMA (Money Market Accounts) and other fixed income products.

I want to get into rental properties to have another source of income and build a portfolio.