FHA might be a good first step if you're strapped for cash.How long do you plan to hold the property?

I plan to leave them enough that they can afford to buy a house or start a nest egg, but I am not leaving large sums to them.

Take a look at what markets you are planning on starting in and make sure it is a growing market where the appreciation is obvious. 

It sounds a lot like timeshares or partial ownership plans room the 1990’s and 2000’s.

You are procrastinating on the smallest of things which means you may lack the confidence to do what you are planning to do.

Currently, I am making plans to setup to become a PML.  

You want this to be your backup plan if things take longer than anticipated, you do not want to dip into personal credit cards so i would use a heloc to help with down payment but try to keep a nice available balance on a heloc as your insurance policy. 

Was planning on going to my first event next week.  

Until whoever is sending you these opportunities has the conversation with you on how much you'd like to make on a deal, how you figure your ARV and how you plan a rehab/ costs they are likely going to continue sending you opportunities you won't find too appealing. 

It sounds like you got a solid plan for your first investment.