BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

You are better of buying duplex deals on the west in areas like Brooklyn, Tremont, Cudell, etc...

I hope you're working on saving up some of your own cash since you will need that to buy more property.

If you have some capital, income, and decent credit, buy a 4-5 bedroom house and rent bedrooms. 

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

However, my true goal has always been to develop, buy, and manage real estate—something I’ve dreamed about since I was 12 years old.

It normally doesn't cost you any money to open and to be able to access that large amount of equity to buy or stabalize your current portfolio allows you so much more opportunity costs.For instance, I took a $200K LOC out on my primary residence when I first started in real estate.

The area has certain advantages like shelter from regulation risk (pretty much as low as anywhere in the country if you buy in the approved STR tourist zones) and long term security (people aren't going to stop going to Orlando anytime soon). 

We aren't the traditional flippers who run in, throw up a lick of paint, hide the disastrous side of things and essentially trick people into buying a lemon.

I am new here just trying to learn and gain knowledge to start buying my own rentals