With that amount of cash you should be able to meet the 3.5% down for an FHA - aim for something that may or may not need work with plenty of beds for your friends.

Remember when choosing a property management company or any other contracting service for that matter, CHEAPER is not always (and usually NOT) the best.  

My company (Holton-Wise) for example sell offers a turnkeyesq service where we broker deal & then do everything you mentioned above in house.

From my research i've come across programs that aim to help first time buyers reduce the down payment and associates costs, FHA, sellers remittance, 401k funds, counting 75% of rental income towards my income for qualification etc..I've been hard at work saving at the ripe age of 23 to the point where i'm confident that I am close to making the leap.. 

Anybody have any thoughts on paying for cable vs. netflix (or other streaming service) in an Airbnb?

Also, if I do invest in these areas, I'd like recommendations for property managers, handyman services, and other professional references.Thanks.

May I also recommend that you suggest the services of an appraiser for your buyers before they make an offer on a home instead of suggesting they wait for the bank appraisal to screw them over!

To build trust I would like to VOLUNTEER my time and services to someone who could use the help.

There is no such thing as being a broker in DC without obtaining a broker license.The code provision you cite exempts certain people from needing to obtain a license, even though they appear to be providing what may be considered brokerage services under DC law.

I've had some commercial lenders also look at my global debt service coverage ratio, but they don't reduce the income by 25% so my numbers are much better when a commercial underwriter is evaluating me than for a conventional loan.