These needs will, for the most part, have gone away in 20 years or be covered by the assets you've accumulated.

The end goal is to accumulate a number of rentals and do some fix and flips.

What I discovered is something I have never seen anyone speak about on Bigger Pockets (I am sure someone has discussed this I just have not seen this idea discussed at all...or anywhere in my short research period on cash flow and real estate properties.We hear everyone speak about Cash Flow, NOI, Cap Rate or Cash on Cash returns.. however I think there is another important benchmark for investors to consider when deciding their down payment percentage and financing levels because of their effects on cash flow...Capital Cost per $1 of Cash FlowOne of the most illuminating aspects of real estate investing is financing isn’t bad...Having spent all of my life not accumulating debt this has been a difficult psychological barrier to break through.

I think I should now start accumulating some extra cash for the rough times :)

With a small starting amount like that, you will gain a much higher return on the knowledge accumulated from researching the equities than you will from the actual dividend stream itself.

During this initial learning period of 8 years after 1973, as I accumulated more knowledge and skills, besides “hands-on” experience I also worked sales, cost estimating and as an assistant superintendent overseeing multiple jobs.After graduating from Michigan Technical Institute with a diploma as a legal secretary (although I intend to become a medical transcriptionist and medical records specialist).

One day years from now a co-worker will find out that you've accumulated quite a few properties and will be astonished, just assuming that you must have received a substantial inheritance to do what you have done. 

I'm interested primarily in rehabbing and/or flipping and accumulating rental properties.

Its one way of Buying and Holding, and accumulating more property, but obviously not the only method. 

I wouldn't mind starting off with a cash flowing property to get my feet wet, then sell it afterwards, so I can start accumulating some cash for flipping.