a) Avoid any unnecessary costs as a beginner b) Get a few properties under your belt first before you consider an LLC. c) Consult with a good real estate CPA (not all llc's are equal)d) happy investing !  

Beyond that you should consider an umbrella policy - it is a policy that kicks in after you have hit the limit on your primary policy.

This project won't be a consideration for at least another month, if not more, so I've got time to interview more contractors before I even consider an actual offer on the property.

If you can't find a solid RE investment, then consider an REIT if you are focused on RE diversification.

Therefore, people cannot build up the bank account to even consider an investment property. 

Consider an alternative form of investing such as HML.

The Dunedin Causeway is beautiful, but it pales in comparison to what we locals consider an actual beach.On the other hand, Clearwater Beach just to the south is in high-demand (with the price points to match), but we locals would never go there.

Definitely going to consider an advanced degree but need to do more research on it. 

Another option is, If you know you have a buyer, and the seller wants a huge EMD consider an option contract instead.  

You may want to consider an umbrella policy to give additional Liability coverage if the limtis on your homeowners are exhaused.