Regarding you expenses:Missing CapEx, 15% total combined w/ Repairs.Vacancy might be a bit low (I figure 8%), but this is super local.Water/sewer looks high. $40/unit/month is usually good.

Remember, YOU are the one that's ahead of the game jumping in at your age and YOU are the one that is going to be likely more successful then those you come across tomorrow when you hit their age, so walk with confidence and leverage your instincts during discussions...and it sounds like you have financing pre-approval already in order so anyone giving you crap doesn't deserve the commission from your acquisition anyway

But it sounds like a combination of things could work

They are largely deceptive and misinformed...this is a volatile and unhealthy combination.

@Mark Eichenlaub I'd like to take a stab at answering your quistions... for the past 3 years my W2 has been a combination of managing a 700k sq. ft. portfolio of Class A commercial office space, industrial, retail and more specifically, right now 30 credit union locations. 

I live 25 minutes from an area with an extremely hot rental market combined with a housing shortage.  

@Jose Lopez:Repairs and CapEx are way too low. 15% combined is pretty safe.You're forgetting management (10%).Water/sewer is usually paid by the owner of a 4plex.Any other house utilities, like electric for common areas?

So combine party school with young students and that could have caused trouble for your uncle.

"AUSTIN, Texas — A new concept debuting in Austin combines condo ownership and short-term renting with the city's first high-rise homesharing property.Unit owners will purchase one of the 249 hotel-licensed condos with the intention of listing their unit on the Airbnb platform or independently or through Natiivo management, a new brand by NGD Homesharing.The development planned for 48 East Avenue in the Rainey Street District will feature 33 floors of fully-amenitized and furnished studios, one-bedroom and two bedroom units.

I will also strongly encourage you to consider local meetup with Freedom First Real Estate Investor’s Association, LTD (FFREIA) This local group has combination of new, couple of years and seasoned real estate investors.