Our typical Profit is 5-10K per deal. 

Thanks a ton for looking at this and giving me your thoughts.I agree with your equity point and I'm thinking of taking the first few months of cash flow and paying more of the loan down to gain equity quickly.I'll be going after private/hard money for this loan.  

My goal is to eventually gain financial freedom (teachers generally don't have this option if they only teach!)

,RealtyTrac data is typically very stale, or was last time I used them a while back.

Capital gains is way less than income tax.

I was about 5 days from closing on my first place (an up/down duplex + cottage)...when the lenders (a typical residential / investment lender) said he would not fund the transaction...because the appraisal came back saying that it was a "raised mobile home" - and they don't fund mobile homes.It wasn't obvious that this was a mobile home by sight - apparently it was just the foundation of the mobile home that was used and then was re-finished (new siding, new roof, etc).  

You can't tear sheetrock out of a home while in contract (typically), but you can sure as hell give that dog a chance to smell around and see if it detects anything. 

You just typically try a little harder.  

Those ASU college kids you're going to be looking to rent for will do damage to your place, and they typically turn over every year, so that will eat into your cash flow.

Should I just shadow someone and gain knowledge in my spare time while I work and go to school?