I am really finished with my current job and course in life, and am really looking to get into the real estate game, and hopefully one day in the future, gain that financial freedom!

I really appreciate the personal experiences that you had as real life examples. 

If LTV was greater than 90% LTV, PMI is life of loan. 

I have had a similar moment once before in life, though it was just a garbage job not a career.

Less risk for me and less risk for you, while still receiving the satisfaction of changing someone's life.

Another thing to consider depending on where you are in life is a life insurance policy to cover your mortgage payment in the unfortunate event something happens to you so your wife/family can pay off your assets.

I am treating my first deal like the real life intro to real estate that it will inevitably be but at the same time, I don't want property #1 to be a massive mistake. 

But one must start somewhere, one must finally take real life action, and one must continue to fight the good fight (stay focused, don't give up, always strive to learn new things, always network, and keep pushing the limits of your goals). 

Like most things in life that require flexibility and lack of other priorities/responsibilities, real estate investing is best done sooner rather than later.

We had originally intended to fix it up as a rental, but a lot of life happened along the way and we ended up turning it into a great home for a first time homebuyer.