It's less risk, possibly less reward, but probably more practical for a lot of people than eating Ramen for 5 years, house hacking with a wife, a kid, and one on the way, and praying that the appraisal comes in high enough for you to refinance and try it again or waiting another 5 years for your savings to accumulate again to the point where you can buy another.

I have recently switched jobs and have accumulated $88K in my 401K.

I look at CoC as not inclusive of equity accumulation.  

Fortunately, I've been accumulating them over the years, so I only had to augment my collection when I started rehabbing seriously.

The biggest piece to the puzzle when you are in accumulation mode is recycling your capital.  

Thing has a ton of power and the batteries can also be used for flashlights, etc.I like to do a lot of projects on my own house as well, so I have accumulated many tools.

You are at least old enough to legally enter into contracts, so I would suggest working to accumulate money, building your networks to attract investment money, and learning the business.  

Are you trying to get in a lot of deals quickly or accumulate over time?

One property nearby is pretty blighted and gets "traffic" (a euphemism) and has a mini-junkyard accumulated out front and in back...

There was probably a 40 year accumulation there.