Yes, you'll have business expenses associated with the license, however, the power you receive in return is worth more value.

If you are looking into rentals definitely check out the Northern Worcester County Landlord Association (NWCLA) in Fitchburg.  

The new financing is 6 months interest only @ 5.5%Question 1: What are the risks associated with this plan?

Currently I'm getting my Master's Degree in Music at University of Miami.

Each "club/association" is going to be different due to the different members.

There was a property that was sold at a foreclosure auction in the county we invest in based on the judgement on the property from the homeowner's association.  

I have about 70k in student loan debt, (private university for a public service degree)  This is the main reason for living with my parents, my goal is to pay this down.    

I already have one college degree and returned for another to conduct a career shift, but I think real estate investing is perhaps a better investment.

I have a business degree from the University of Southern California and during the day, I run a full service car wash with my sister.I'm looking to start locally in San Bernardino with residential multi-family dwellings.  

Chris, that is a big project- Commercial properties like that can be expensive in what they want you to have in reserves, net worth, costs associated w/ closing.