You need to make this (product/area decision) a very diligent decision or go for lower returns (LTR) and lower your expenses to save more money to move the capital to more investments to eventually leave your current active income.

Now, I don't know if the property you could have eventually tried to take ownership of, it there was value there but I come across this a LOT in my tax sale buying in Louisiana and I think WTF is this guy doing!!!

Get 2-3-4 of these going, maybe eventually moving every year if you can. 

I'm not looking to get rich quick but I would like to start building a portfolio to eventually get out of the "9-5 rat race".If anyone is in the Birmingham area, I would love to meet up and let me pick your brain on things. 

Ask others what they do for a living, and eventually they'll ask you what you do. 

it's job that dictates everything, it's easy to see why most companies are willing to move to austin and midwest as well. highly educated parent that had excellent job they want the highest quality school as well (hence they want their kid to study at local cupertino HS)... it's just the same thought process that keep eventually real estate more expensive and city boundary is also expanding. 

I know know any path in this industry will be difficult but transitioning and applying the same amount of hours I work now, I'm sure it will lead to success eventually.

Then eventually move up where you hold your license for better splits or go out on your own.Once you have solid foundation then start investing more.You did good saving up some money but if you buy the wrong investment could sink you for awhile.Example if I put 1 million dollars into a property that gives me 6% I make 60k a year.

You will eventually get better at this fun game of real estate! 

Is the initial deposit applied to the eventual money needed for down payment?