Obviously what some of them have done is decrease consumer spending and increase savings.

I see far too many people spending all there time chasing property that they cannot buy because of lack of funds. spend that time making money first and then go after real estate. 

His disciplined approach demonstrates that opportunities persist for those who understand their market and control costs.

It sounds like you’ve got a solid foundation with your rental property, and I love the ambition behind your plans to build a property management and maintenance company—it’s a great way to take control of your investments while creating additional opportunities.Best of luck to you! 

I want to build a strong foundation now so that I can create passive income and have more control over my future.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

In my opinion a fully passive RE investment is the most risky because you give total control to others. 

If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

In person control before controlling re from the distance.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.