Pull the trigger now and figure out a creative way to start investing today.

I've also met with a developer who said he looks to "double" on every deal  - meaning he is spending 200k for land/permits/materials/labor and targets a 400K sales priceIn my area, 4 units+ is the trigger point for all sorts of additional complicated planning reviews and requirements, curbs/gutters, traffic studies, environmental reviews, etc...       

I think back to a deal I never pulled the trigger on many years ago, a rental.

Try and set a goal for when you would like to pull the trigger.3) At your age check into the first time home buyer incentive the banks offer.

The "What" isn't as important as simply pulling the trigger on SOMETHING. 

Your attorney will tell you that you should put it in an LLC, but then will tell you that you risk triggering the "due on sales" clause. 

In a nutshell, each time a tenant moves in (water service request triggers it), a city inspector comes out and inspects your property. 

Having not known everything I had learned in the previous year from Bigger Pockets and getting to know my market by searching so meticulously, I highly doubt I would've had the confidence to pull the trigger so quickly. 

I have not jumped into REI as of yet (difficult to pull the trigger).

To address your other points, I was planning on doing a double close in this case, having the seller put the deed in escrow which would trigger the sale on the B to C transaction, paying her off.