Roast my financial plan!

[Patrick V.]

Hey all! 

I live in Seattle, Wa and have a small house hack here. I managed to score a high paying tech gig 5 years ago and have been living way below my means to build a nest egg to start my journey to financial independence through real estate. I have been avidly reading and educating myself and am beyond excited to continue down this path.

I am now at a point where I need to leave my job, I have accrued quite some savings and I have hit my threshold for corporate life and spending my life in an office. I am forever thankful for the opportunity I have had and know that I am fortunate to have a solid career but my life needs a change. 

Below is my transition plan, please critique it and provide any advise, it is greatly greatly appreciated. 

My plan: 

- Stick around work for another 6 months to get annual bonus, etc. then move out of the house hack, rent the unit we were staying in and live out of our RV while exploring the country and picking up RE from time to time. (10k cash flow from Seattle property)

- While I still have a high paying job and W-2 (I assume this will get me better rates, right?) I will secure financing for 500k at 20% down and purchase a cash flowing rental(s) (ideally value add multifamily) while still working a full time job (I am working remotely and would travel to wherever I invest, post on the locations I am looking at here). (Is a projected 20k cash flow reasonable for a 500k property at 20% down in a good cash flowing market?)

- By the time I quit my job ill have $30,000 in "passive" cash flow and will then have full time availability. At which point I would deploy additional capital and pick up more value add properties in the same location as my $500k property but have more time to do the reno myself since I would be unemployed.

- If my properties are successful I would then feel comfortable tapping into my network to secure more investment capital. I have family members with a substantial amount of cash to invest who have expressed interest in partnering however I want to prove it out with my own $$ first before risking others.

- Build out my portfolio until I have 6 figures of cash flow and hit true financial independence. 

This is the high level plan. What do you think? What would you do in my position? Many thanks for any input!