Here are some expenses that you haven't mentioned:- Vacancy allowance-  Insurance- Property management - Taxes- Utilities (you seem unsure)- Maintenance- Capital Expense Reserves8.

Here's the kicker-- I'm not really looking to get into the billboard industry and would like some upfront cash to purchase a multifamily unit instead.

I’m not sure about the small brokerages but it is my understanding that the larger firms don’t make all that much from the agents, they make their money from their associated Escrow, Title, or other service business for the industry.

When you change employers within the same industry it's not a problem at all.If you are working towards improving your education/job opportunities, that's a good thing.

I understand there are flood maps on the FEMA website and the need to buy flood insurance.

Its much better to lose $100-$200 a month on a property because rent is low, than it is to lose your entire mortgage payment, insurance, tax, maintenance, etc because the property is vacant. 

Also referred to as non qualified mortgages or "Non-QM", they are a burgeoning industry (has been for the last several years) and lately, since the loans that were originated (and sold) have performed well on the secondary market as mortgage backed securities, more players are entering this arena.We close loans with Finance of America.

We think this qualifies as abandoned but my more immediate question is if we have extensively posted the property should/can we insure it?

I am in the process of purchasing my first property and I really under-estimated the insurance cost... 

I think this is a do-learn kind of industry.