Your risk tolerance plays a role in whether you get involved with wraps or not....Good luck!

Found him playing guitar one evening in the property with a girl. 

Your tenants will pay at least 50-60% of your mortgage or more, and you continue on your current budget and savings rate for the expenses or vacancies that will happen. 

I don't want to involve the parish continually as they tend to cause additional headaches.

Some subordinate mtg lien holders play ball by 1st mtg investor guidelines and others don't. 

Does APR ever play a factor?

Hi Marcus,I am not an attorney, nor do I play one on television, but hope this may be helpful in leading your in the right direction.First off, check you landlord tenant laws on abandonment/move out etc... laws before proceeding.

, maintenance (beyond what the HOA covers), and property management (if you ever decide to no longer self manage) - you may be losing more money than it initially appears.HOWEVER, the Beverly area is on fire right now, it is completely possible that property values will continue to climb quickly, and you could exit your condo in ~5yrs and make a nice profit (keep in mind you'll have paid closing costs once as a buyer, and once as a seller at this point, which will really eat into the profits if, say, you bought at $250k and sold for $300k - not a straight $50k profit, plus you had negative cashflow over the years too).So...

This is a commercial property and not a primary residence so how does the capital gains play a part here?

Some advice I've seen online is to just network, get a part time job in the industry such as property management and continuing to read and learn then make the jump once i graduate.