You cannot exceed the lesser of 1% of loan amount or $2k on the rate and term (allows for minimal cash out so you dont have to be exact on the loan amount).

Minimize the rub points, and have clear end dates for those relationships.Also, college folks will pay significantly more for a month to month, to avoid summer expenses... to the degree you may be able to net more than with a 12 month lease, plus have the house to yourself in the summer.

It's a bummer, but the quicker you move on, the quicker you can find a great tenant who actually pays their rent.Don't waste another minute on this tenant, cut them loose.

So if anyone would like to partner up, minimal barrier to entry. 

For one I have my created management software I'm debating whether or not to take public and license out (Key is automation, which is my speciality in software design, that allows very minimal overhead), but at the same time I'd like to take my concept of buying / flipping to rent out to a new level... not sure if it makes sense to go private REIT or what but I'm ready to take what I've designed and built to the next level.  

I feel that even if/when the bubble pops, and the value of my property decreases, I will still be coming out ahead in quite a few ways - 1 - I will eliminate or minimize my monthly rent/housing costs2 - I may/should be able to (?)

It often ends up being a waste of time.  

Does this sound doable or am I wasting time?

The more I learn about RE the more leveraging your money seems to come into play and trying to minimize your initial investment and even pull money out to do more deals makes sense.At my RE meetups it seems like creative financing is really how all the pros do deals.

Also keep in mind you will need WC/GL which will cost around 20K a year for minimal volume, you will be on the hook for warranty and callbacks as well as taking on all the liability that the GC would normally shoulder.