I have very high integrity and fully believe that I am responsible for the outcomes of my life, rather than blaming others for failures. 

A vague foreboding that it could all go terribly wrong, that you never really know, that one day we could get a call that the whole building had gone up in smoke, or a giant sinkhole had opened underneath it, or a particularly bad windstorm had flattened it, or bad wiring caused one of the tenants to be electrocuted, or, or, or...We are all afraid of failure, and worst of all, failure right at the beginning of something, a failure that completely exposed our incompetence for all the unkind people we all know to laugh at behind our backs.

This person may be referring to a single property as a single point of failure.

As Joel suggested most small businesses like that will fail so build for success but be prepared for failure.

That's setting yourself up for failure.

looking for short stories of success and failure when getting into real estate full time..

As I sit here thinking about creative ways to fund a deal, including hard money, I have come across the idea of a Solo 401K plan and loaning to myself from the plan.Key facts that I can find are:  5-year term (normal prin+interest payments required at least quarterly), Larger of $50K or 50% of vested balance is the max loan, no credit check or specificity required about intended use of funds, failure to make payments/payoff on time are that plan treats it as a taxable distribution (early in my case), can loan at a reasonable interest rate which sounds like can be a prime+ type rate.....last WSJ prime was 3/22/18 at 4.75%. 

(not new, I owe 12k thanks to garbage warranty and bad loan terms, and it's worth between 8 and 9k))I am living with my failure on both of these, I look forward to reclaiming my car payment as savings, as well as renting out my rooms and building up a nice emergency fund. 

Starting without a solid employment income is a recipe for failure.

Failure to disclose the lease would then fall back to the seller and the seller would be liable for that $5000.So a contract indicating that the property will be delivered vacant is just fine.