Set for Life by @Scott Trench is a good primer, along with Rich Dad Poor Dad so you can different views on what it's like to start.

Hey guys Im new to REI and really life as an adult haha.

Will this improve your quality of life?

FHA loans taken out after 2013 with only 5% down cannot drop MIP for the life of the loan.

If a person is 20 years old, and their life expectancy is another 60 years, then that $600/year adds up to a whopping $36,000,...total. 

Someone that can come in with high % equity (maybe 1031) it would be great long term and short term cash flow with a lower loan amount.I’m in the realm where I can afford it not a big enough dent where my life is being changed at all really.

I am curious about how that is actually handled by other tax pros in real life scenarios. 

However, the lower payments give you flexibility in case a major life event stresses your finances and/or monthly cashflow. 

My approach is one of careful research, strategic planning, and a willingness to adapt as I grow in this exciting new chapter of my life.

I’d recommend reaching out to a local architect or design-build firm who has experience with both home additions and ADU construction to help bring your vision to life.