We split mortgage and are both on the loan and title. 

Meeting a 20% down payment to avoid PMI seems manageable, although would take a big chunk of my liquid net worth, and I prefer this route over using an FHA loan.

I am currently working on finalizing my goals and market analysis.

* Finally, could you recommend any valuable tools or learning resources?

Is the loan assumable? 

The typical term of this loan is 12 months and rates range from 10%-12%.

And could even get a second home loan if doing traditional financing.

My belief is that you will be challenged to realize a 10% savings loan n your first effort and there is some chance it will cost more than if you used a GC.  

The LTV of the loans I’d conservatively gauge at about 35 percent.

If you dont have a great team to work with you can lose your shirt even if the house is next door to where you live... there are lots of great areas but only a limited number of great teams so our final choice has always been team driven... saying that we look for an area where there are lots of opportunities  and rental houses available in good areas using the 2 % rule  we found this in Detroit and Toledo  more then willing to share what we do and what we have learnt over the years