In addition, we are also pursuing Financial Independence through a mix of real estate and investment accounts. 

Financial independence, passive income, retiring early, living life to its fullest, real estate investing.

You most certainly need to know how to pencil that out with real and reliable numbers.On your last question-Do you mean to imply you have enough for a down payment plus another amount independent of  down payment which would equal to 6 months of payments.

In the past few months I read the book "Rich Dad, Poor Dad" and it jump started me into seeking financial independence.

If the hotel is an independent, be aware that competing against the big boys can be a real challenge.  

I don't have a lot of money saved up and I currently have poor credit 580-600, but I'm interested and dedicating myself to taking the first steps of financial independence by learning the ins and outs of the real estate industry.

Or with independent?

We use Matt McClellan with Fairway Independent Mortgage.

If the mechanicals of the home (plumbing, electrical, roof, and HVAC) are all centralized to a single unit, I think your home inspector stands a much better chance of spotting an issue as opposed to a multi-unit with multiple independent systems that may or may not be accessible due to tenants.As for closing costs, try to push the closing date until you have the funds available?

I've been listening to the podcast for awhile and figured it was time to stop working so independently and start getting plugged into the community.