I invest OOS, where my risk tolerance is the lowest and may end up purchasing a lower priced property well within my budget where I can cover any vacancies/emergencies using my own capital.

All you really need are some reliable contractors to respond to maintenance issues, particularly emergencies.

If you wait for an emergency to happen it is the most expensive time to deal with the issue.

Here’s the plan I’ve come up with, and I’d love to hear your thoughts on its feasibility, potential risks, and any improvements you might suggest.The Plan1.Pay Off Mortgage: I currently have $170K left on my mortgage, and my goal is to aggressively pay it off in the next 1.5 years.2.Establish Emergency Fund: Before making any big moves, I’ll set aside 6-12 months’ worth of expenses as an emergency fund.3.Extract Equity: Once the mortgage is paid off, I’ll pull out the equity from the property.4.First Flip: Using the extracted equity, I’ll purchase another house, fix it up, and sell it for a profit.5.Reinvest Flip Profits: Instead of buying another property immediately, I’ll use the profits from the flip to renovate the original property, aiming to increase its rental income and appraisal value.6.Reappraise and Extract Equity Again: After renovating, I’ll get the original property reappraised and extract additional equity based on its increased value.7.Purchase Rental Properties: With the additional equity, I’ll start purchasing rental properties that offer positive cash flow and have growth potential.8.Leverage Equity Strategically: I’ll use equity from the original property and any new properties while maintaining a healthy loan-to-value ratio (LTV), ideally around 70-75%.9.Build Rental Portfolio: I’ll focus on acquiring a mix of property types (e.g., single-family homes, multi-family units) to diversify my investments.10.Focus on Cash Flow: I’ll prioritize properties that generate consistent positive cash flow, ensuring that rental income covers all expenses, including mortgage payments, maintenance, and management fees.11.Long-Term Hold: I’ll hold properties long-term to benefit from appreciation and tax advantages.

By special situations, I meant: "When getting an emergency to be taken care of OR when a tenant showing/screening has to be done" etc. 

Unfortunately, nobody will give you something for nothing...That said, I would suggest working on creating the value you can trade for the other piece of the deal (either money or the REALLY good deal).

Best tip: Go to "B or C" apartment complex, locate the maintenance man, he is jack of all trades, master of none but can do almost anything you need done.....he gets paid at best $15-20 an hour.  

But you do get that guaranteed rent as a trade off for your work.I have some section 8 tenants and other programs that are 10X tougher.

Spend ever holiday and summer working for trades right now. 

We should jump on a call and trade ideas