You've got a lot of assumptions built into your model to arrive at your numbers, so I'd start with the GRM - are other MFR properties trading at a 3.9 GRM?  

A stock can crash in a day.  

My current property manager has crashed with the economy, so I need a new one.  

So I arrive at a rough NOI of $145,000 since 145,000 / 1.2m = 12%.The income range you provided is, I presume, the difference between all units with a single occupant at $875 per month ($13,125 for 15 units) up to an average of 4 occupants per unit at $1415 per month ($21,225 for 15 units).

I recently took a 3-day crash course on investing.

Frankly none of us can predict if there will be another market crash...but if there were one, it is highly unlikely it would be as severe as the last one.If you are concerned with the risk....consider buying a place that will rent for more than your mortgage payment.

My research has left me with a few questions, though...First of all, how likely would she be to find a job within a couple of months of arriving assuming she passes the test on her first try in August? 

Also, I'm getting an accounting crash-course from reading online.

A quick call revealed these two units hadn’t arrived with the others because they were a special order; we were told they would be in by the weekend.Monday came; the new pantry had arrived.

It starts at 6:00 PM (though you can arrive later) and ends around 9:00 PM or later.