If you're just starting on this journey I might also recommend two more things to you1. 

I’m fairly new to the BP forums and BP site in general, But I have been very active on the podcasts and books stacking education and knowledge in the real estate field. 

Outstanding education, local and national meetings and lots of networking.

The irony of the 1% "rule" is that those who could even use it effectively don't need it, ie if you need to spend more than 30 seconds thinking about whether it fits the guidelines you're probably not educated enough in RE to use it anyway. 

There are several texas who to me are not people I would want to do business with who took millions from investors and never returned it and still is out there raising $ and people are still giving him money for education and investing which is not gonna end well for them. 

I working to educate myself more about REI.

Just keep in mind, the costs of setting up and maintaining an LLC and the bank account that goes with it, not exorbitant but important to consider.I'm not a CPA or an attorney, but I would suggest taking the time to diligently put together a trusted team to facilitate your long and successful investment journey!

You started your journey.

Some sellers may not care and those that are in protected class's IE non english or simply not educated might still get taken advantage of..

I am a young investor that got the opportunity to make a big jump in my investing journey.