Midland, TX - Calling all Veterans (or, successful rookies)!

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BP Members (specifically you veterans out there, or, real estate rookies who are finding success): I have been a BP member for a few months now. My initial intentions of being a dedicated, self-educating member failed. Wha' happened? Work. Life. You know, responsibilities. Just graduated college, and entered the work force. Determined to learn more about real estate and how I can access financial freedom through investing with business intentions (not just a few SFR units - I want an army, dang it!). I have a goal of reaching a net worth of about ~45k by the end of this year (probably will only be $35-$40k). I want to buy some property with some of that, dang it! I don't care about a new car, new clothes, etc. I want to grow as an individual (mostly financially right now). So...for all you people finding success in real estate...I have some questions if you have the time! (1). How did you find the cajones to invest in a real estate property? What made you do it? How did you come out victorious in your internal battle of debate? Did you have a business plan for yourself, defining what your goals are (one property, two properties...fifty properties, etc.)? (2). How the heck do you deal with all of the uncertainties? I.E. - Housing market declining for the area; inability to find tenants; ability to find TERRIBLE tenants; sudden requirement to move due to job relocation (wtf do I do with this rental property now?!); having to default; not being able to sell the property, etc... (3). Are there certain ratios one should use in order to measure whether or not a real estate investment is wise? Sounds obvious, right? I know. No time for not asking dumb questions though. (4). How do you go from having one or two SFR rentals to owning an army of rental properties? What makes you decide you have the ability to even do that? Are there some magic tricks I don't know about? I read some of these individuals in their mid-20s, late 20s, and young 30s, with all kinds of real estate success stories. After I finish rolling my eyes and vomiting, I find myself itching to learn more and how the heck I can do it. (5). What are all the expenses besides the mortgage payment for the month? Insurance fees; property taxes; handy-man for maintenance; legality fees for tenant contracting; credit checks; lawn maintenance; renovation requirements, etc. All of these expenses seem to be just squeezing at your margins. (6). How much money do YOU think you should have put away BEFORE investing in real estate for rental purposes? (7). Are there any benefits from creating a legal entity and investing through that entity, rather than investing as an individual? So many more questions, but I'll save them. I feel that this is a very complex, dynamic, and volatile industry. Not to mention, extremely competitive. Any feedback would be super cool! I promise to involve myself more with this community filled with badassery. P.S. - Would any real estate investors in Midland, TX be willing to meet and discuss more in depth? If so, let me know! I'll buy the coffee (or meal - expect something average though. I'm a college graduate, not an oil tycoon).