Any energy you spend on this will be easier than a drawn out eviction, so figure out the barriers and help them solve them.You may struggle to find quality tenants and folks that won't smoke in units, I had to really adjust my expectations over the years. 

It may vary in different markets as I know that @James Wise said expect to spend 25% down.

They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint. 

Recently married and currently expecting, my wife and I are looking for ways to build the financial independence we need to support our kid(s) outside of the usual 9-5.

After 2years I’m now ready to sell and expect $70k gain.

I'm 21 and expected to graduate in the next few months.

I think it's a relatively safe bet, given the current market value, expected population growth, etc.

Am I being unrealistic if I expect to get started in the city with about $17-$20k?

The best thing you can do is reach out to brokerages and interview to get a glimpse into fees, expectations, and most importantly, culture.

The expectation is to loan $300,00 (their full development costs) and then they will buy me out in 2 years (either from the profits or a commercial loan - they aren't looking to sell the project after completion).I am considering loaning the money and asking for 8% annual return (paid monthly) even through the build-out phase for a total of 2 years.