There might be a time to cut losses and just sell it, or if it makes sense your other plan could work, as long as you pull permits and do everything carefully.

I plan on starting out next year with a small plug and play solution to have minimum risk.

If it is, what is the seller's plan if the underlying lien gets called in? 

Starting in your 30's is in some cases better in that you are more mature and disciplined about saving and settled. 

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

This translates to at least $10 K a month in savings.

With flexible terms and fast closings, private lenders make funding accessible to new and seasoned investors alike​​.Plan for Property Management: Whether you manage it yourself or hire a professional, ensure smooth operations by setting clear systems for rent collection, maintenance, and tenant communication.

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

How much rent are you getting and are you planning to buy more properties?

and i know that that there’s risk involved, so ill always be prepared for things not going according to plan. and i think starting small and gaining knowledge and experience over time is key.