Those are relatively high lot rents though so probably not much upside.

I'm 17 years old, I've graduated high school and currently doing an accelerated college degree. in the meantime I'm working a full time job/ a few side Hustles and a budding business.

I’m just wondering if 12k is a bit high?

Always just assumed the cost of entry was too high.

I have had an interest in rental properties for quite some time, but I am nervous and still feel unprepared to own/manage being a high quality landlord.

The problems I see are:Rent is a low percentage of the house value, so not optimal use of this equity/capital.Property taxes are high due to the higher house valueMy costs would be a baseline of $2700+800 = $3500 plus maintenance, unoccupancy, etc. so basically breaking even cash flow for 12 yearsIf/when we sell it, we'll owe capital gains tax since we wouldn't have a "new" house to 1031 into.

I am also thinking about investing out of state since home prices are pretty high in NJ, and it seems finding cash flow is a bit tough around here.

I highly doubt the department of RE in WA would do anything with this.

As mentioned already I highly recommend keeping up communication with investors to ensure that you are both aligned on the deal.

Very high probability that sometime in the future you will need to put those fees towards the lawyer fees / collections - unplanned turnover, etc.,