Be patient, but one SFH is not life changing.  

In tough markets, flippers are competitively bidding properties up to where you have to buy it at 85% of ARV.So, either with parents' help in the next 4 years, or on your own at 18+ years old, get motivated, get educated to know a good deal, and take advantage of nice profit potential in REI.I've been pointing new investors to consider the BRRRR method of fix/hold rentals.

Get a good baseline of education - it's free to listen to podcasts, rent books from the library, and read through forum posts etc... 2.

the realtor was supposed to have changed the pictures a little and we just added the aerial shots a friend did for us.

Also, as you self educate you will find a more specific strategy, the more focused you get, the more someone else can help you move forward.

very important, i have student rentals next to a college, the college expanded and added dorms, all was good for 2 years after, then enrollment went down. the college changed it's policy and instead of just Freshman being required to stay at dorms they made it so that Freshman and Sophomores had to stay in dorms, took a big hit on the town rental. you need to figure that Sophomore year is a big year for student rentals, kids start to drop out after that year, so those would be your biggest rental.

Take the time to educate yourself well on the topic, I've seen number of IRA's being destroyed because they did such partnership and ended up violating the rules.  

I realize that as the leases roll over I can change the terms so that the tenant pays for the water, but am wondering how high the risk factor is in the meantime.

So here I am, continuing my education and improving myself to continue living the good life!

Try to find your niche early, although your investing habits will change and mature, defining your market early on will help you understand the processes in your market of choice.