You never know when you need the extra cash and never know if you will upgrade your life.   

This is just a step to ensure you are being extra safeBasically, you can still do both in any market, but you have to be more accurate with your numbers when the market is shifting or nearing a shift. 

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

No extra hassle there. 

@Kathy HenleyWhy don’t all the owners put up their share of the needed extra $$$?

Would you also recommend me taking part on a deal even with little to no money down right now as a college student because I am sure I will need to have extra cash while managing the properties or even to to a little bit of rehabbing before a tenant moves in.

Unfortunately, it is illegal to collect any extra money because of a service animal here in our area.

Can you add storage units and a laundry facility in the basement to add some extra monthly income from the existing tenants?

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

If it costs a little extra money to do it, then I would say it's worth it for the diligence perspective.