Reserves are key as  @Theresa Harris has pointed out.   

Is in there, but a great thing you can do now is get your "core 4" figured out - agent/lender/manager/contractor - obviously you can adjust this and do one of the pieces yourself (self-manage for example) or don't need a contractor if you do only turnkey etc but getting this nailed down early is key

Do you want to purchase "turn-key" properties or "fixer uppers"?

I don’t mind having skin in the game either, but I know using private money is key to scaling one day and would like to get some experience with it now, even if it doesn’t fund a majority of the deal. 

While cash flow may be harder to achieve here, these markets often shine in their ability to withstand market downturns and provide solid appreciation over time.The key in markets like this is understanding your goals.

And, in my opinion, more importantly, the lurkers who never comment, now believe they have the "golden key" of information.As you already know, there is so much more to this, in order to stay out of trouble over the long term. 

—will be key to success!!

And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"? 

Key is all about finding the solution and never giving up.

It seems you would be using it as a 20% down payment on a turn key ish property.