I'm hoping to gain guidance on how to get started investing and building a portfolio.

The policy covers the existing structure (normally at Actual Cash Value - rebuilding less depreciation) and the additions being added.Remember, if the Reno Builders Risk does not cover Liability, you should get a sepparate coverage for that.  

Additionally, in terms of leverage, how much does the 16-unit cost? 

When we purchased this property, it was run down and had major issues to fix and there was an additional .34 acre parcel of land included with the purchase that is located next door.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

In addition to the advice above, do your due diligence on the operators.

Additionally, I am not house-hacking since I will be relocating after graduation, but would want to keep my investment property in the area near my university. 

Tenants will appreciate the longevity and ease of maintenance that granite countertops offer, reducing the need for frequent replacements and repairs.In addition to their practical advantages, granite countertops add a touch of luxury and sophistication to rental properties.

I am not looking for any sort of payment, just trying to gain knowledge and hopefully help someone who may be looking for a driven individual with a great attitude. 

Although, thinking a little longer term, it would be interesting to see if you can build in a small equity stake in addition to your fee so that you continue to receive benefits for your initial efforts on the front end.