Do I have a solid plan? Critiques/advice would be appreciated!

[Michael Monroe]

Hello BP community!

I have not been very active on the forums, however I have been educating myself on this website while I finished college for the past two years! My fiancé and I finally feel like we are prepared to start investing in real estate, and take on our journey to financial freedom. A little background on us-we both just finished college, I am a first year fireman, and she is a realtor. 

Our goal is to be financially free in 3-5 years. In order for us to do so we agreed that we would like to make 4-5k a month in rentals. We are currently renting but our lease is up in February so we will be done renting after that! The city we plan to invest in has a population of 55,000, and the average home being $130k.

Our plan: We want to first buy a house hack, preferably a duplex-but we would also do a triplex. Our biggest thing since are salaries are not very high due to us just starting in our field, was that we want to cut our biggest expense. Right now our rent is $750 so once we find our house hack we decided we will still pay ourselves a 'rent' of $600 a month. To finance we want to use a FHA loan, and live in the property while we fix it up, that way we can get a good introductory of managing a property, and learning how to rehab properly for when we decide to hire it out.

After that, we want to try and add at least one real estate transaction per year until we feel comfortable doing more. By that I mean 
Year 1: House Hack
Year 2: SFH-or Duplex/ with a flip
Year3: 2 SFH- or Duplex/ with a flip or vice versa 1 buy and hold with 2 flips. 

To finance the remaining properties, we will use our savings from our salaries and the house hack as a 'cushion', and then use OPM to BRRRR the deals. I know this plan seems to be best case scenario and we will face obstacles but this was just our road map/plan of how we plan on obtaining financial freedom. Are we on the right track? Any guidance would be truly appreciated, and also keep in mind-we are just starting out ! (:

Cant wait to hear from you all!