fork in the road

[Tony G]

I currently have a job with a 55k salary, which i'm highly considering to give my two weeks due to the high stress level and overall a bad company to work for. My only motivation to go into work is to save more money to invest in real estate.

I have done one fix and flip project with a partner, which i grossed 9k, and that is my only experience. We haven't done a deal since because he is opening a business.

I have 40k in savings, only debt is car payment of 365, no rent/mortgage living with sibling, not married no kids.

I want to take the plunge and get my real estate license and to do it full time. This way it would enhance my knowledge, have access to mls, understand my market better, and network w/ a wide variety of people in the real estate industry. I understand I would be commission based and it may take time for me to earn a paycheck.

My dilemma is I would like to buy an OO duplex around 150k as soon as I can in order to take advantage of the low rates and qualify for a mortgage, but clearly if I were to quit my job that would not be a wise decision. I understand if I were to become an agent I would be self employed and wouldn't be able to qualify for a loan until I have 2 years tax returns that shows sufficient income. I would rather not wait that long.

What would you do if you were in my shoes?