As a college student my monies would be very closely watched.

REI is a patience game and takes a lot of learning not just several months, it takes years.My advice to you is if you feel you are ready from reading enough books watching the market for a while and talking with real investors, then start small with a SFH learn what its is to be a landlord.  

My question is, what are the pitfalls or things to watch out for when negotiating and dealing with a house that still needs to be completed? 

Run away - most are considered hazmat sites and once on the map they are considered that to the EPA has confirmed that all contaminated soil & building materials have been removed and in a hazmat landfill -- you can only use a licensed contractor - it will big $$$$$$$ - property will be on top of the building & fire departments watch list

I was traveling at the time extensively and wanted someone home for my dogs, planning on living in Florida and wanted to have someone watch my house in Montana.

Firsthttps://www.youtube.com/watch?

'Rich Dad Poor Dad' Robert Kiyosaki Exposed - Part 1 of 3 Investigative Report https://www.youtube.com/watch?

Yes, the lots I have been watching are not a part of any HOA or covenants, and I have actually built this particular plan I am speaking of 6 or 8 times in the last several years and watched the numbers closely.

Been reading and watching a bunch of stuff from the Syrios family, who manages hundreds of rentals.

He would rather sit around watching TV and getting fatter than work.Guy #5.