However, I am trying to accomplish this task by purchasing under market value (every investor dream).

Budget for More Than Just the Mortgage: Include property taxes, insurance, maintenance, and potential HOA fees.3.

Then over next 2 years you pay down the remaining 70% of the purchase price?  

I flat rate the water by person in each unit, include it in the monthly rent and pay directly.

The proposal includes plans for for more than 1,000 residential units at the north side of the project consisting of 122 single-family homes of various building types, 786 multifamily units and 153 carriage house apartments.

I received a 6% return rate, and had a chance to purchase 4 properties.

I am in the process of purchasing my first STR.

Hello folks in Georgia / Atlanta,The Bigger Pockets Book On Rental Property Investing provides access to a comprehensive list of 34 forms that would be useful to a landlord including things like a lease agreement, application, late rent notice, move-in-move-out agreement, estoppel agreement, tenant phone questionnaire, pet addendum, etc. etc. etc.  

Current net worth is only $1million with retirement accounts included.

You can run an ozone machine for a bit while no one (including pets, but assuming they have none) are in the house.