Why even bother with the baby steps if the ultimate goal is to get into a larger asset? 

Figure out what you want and different strategies may be better for your ultimate goal.3) Unless you are actually wanting to replace your current job with another job, I would stay away from really getting into whole sale and flipping, I would steer towards buy and hold rentals.

For the past three months or so, I’ve made it a point to read at least two BP blogs every day, I finished reading The Ultimate Beginner’s Guide, and just started reading The Book on Rental Property Investing, with several other BP produced books waiting on my bookshelf.

Mom and pops don't scare me as long as you are realistic about their chances for survival and knowing what it will take to get another tenant in place. 

Ultimately you do need to think about what your short term and long term goals are. 

What was said so far in these responses sounds solid, but without knowing everything you have, what your specific goals are, what you're planning on, and what your personal thresholds for risk are, as well as what exposures you have, you're ultimately shooting in the dark. 

However, I am not convinced that buying a much cheaper property and manually converting the garage or building an ADU from scratch would have saved me much $$$ ultimately.

These things happen and know matter how diligent you are at maintaining the property, it ultimately will have problems at some point in time.  

Why a deferral was necessary, the steps to accomplish the plan and ultimately paying the investors their deferred cash flow payments.My situation was to redirect investor cash flow payments back into a value-add property so we could upgrade and turn vacant units quickly.

Once you’re told to F off you’ll realize it wasn’t that bad, which will eliminate that fear you have and give you the confidence to offer on the next deal which can ultimately land you exactly what you’re looking for.