I define ready by having ability to lose 100% of the investment you are making and still be able to pay your bills 

I suppose there are counties out there that would allow it but it would depend on how they define the structures you are building. 

Have you defined any specific areas or neighborhoods you would like to buy?

This is a slower way to grow your capital but you can learn about how syndications work and decide what aspects of the business appeal to yup strengths and resources. 

Quote from @Christian Terrones: Any BRRRR mentors in Houston Tx  Do you have particular questions or aspects of BRRRR you're looking at?

So usually no complaints from a bank on that aspect unless maybe you're at a small Savings and Loan or Credit Union.   2.

In my example above, if re-defined that as a "dividend" it would be at 21.88% dividend. 

It sounds like you're in a strong position to start your real estate investing journey, especially with your solid income, educational background, and detailed research.Focus on the first step of defining goals and strategy.

You may want to better define, "clean up services when old tenants move out".It's more than just cleaning! 

Lots of good resources here - if you are interested in notes/info on the financing aspect of flips I'd love to help connect you with some experts in those markets