@Sanjeev KaushikThose fees are common, and are reasonable for the services provided, which typically involve a good bit of specialty expertise and ongoing guidance with respect to operating the vehicle in accordance with the IRS rules. 

Consider your down payment, closing costs, and ongoing expenses such as property taxes, insurance, and maintenance costs.3.

My income is based on going market rates and how much rental stock is in my area.

So conversely with a BRRRR renovation, the renovator needs to focus on the long-term health and low ongoing maintenance of the property, versus the gold-finish faucets and heated bathroom floor in front of the vanity.

Buying multiple properties of lesser value (multi-family or single-family)I'm looking for insight beyond the upfront work of getting financing, finding, and purchasing the home, as well as ongoing work such as more tenants resulting in more issues to resolve, relationships to keep, chances for a headache, administration, and accounting. 

Once you have one deal or multiple ongoing deals that cross over whatever threshold that is, you will have to be evaluated by a larger committee of bankers with your contact repping you and your deal.  

They require ongoing management and maintenance, and most times the promised returns don't quite match up to reality.Personally, I've moved away from buying individual rental properties and have started focusing more on syndications and private placements.

Im reading the BRRRR book right now and its talking about the 1% rule and how you can use it as a guideline to see which areas to invest and to save you time on going deeper into a deal.Im not 100% sure how you would use it but What do you guys think of this strategy?

An ongoing problem with duplexes, tris and quads is that if you buy in an area where there are not a lot of them, getting comps can be difficult. 

I congratulate you for wanting to start so young.I'm curious, are you planning on going to college?