Eventually, I brought in pros to help.

I'll eventually have to do it myself to properly price a new development I'm working on. 

The whole appeal in REI was to maybe create a small business on the side with my spouse as a way to: eventually secure supplemental income, start building equity in RE and maybe creating a small business together in RE that would help us obtain financial freedom after hearing how risky things can be, I’m trying to learn: what are other RE investors doing to make money despite the risks around home repairs, vacancy, additional expenses (i.e property managers), etc.

Eventually conventionally will probably cap you at 7-10 properties as well. 

I'm currently stuck on how to get started, i feel arbitrage is a good start to make some cash flow and use that money to eventually put money down on an ownership property.

As far as whether to rent or buy, it depends on your personal situation, though as it's a new area it may be a good idea to rent for the first year while you decide where you'd eventually like to purchase.

                                                             - Interior/exteriors are OK (new carpet and paint eventually, in one home)                             - About 5 appliances will probably need replacing w/in next 5 -10 yrsThank you!!

6) Many S8 tenants eventually stop paying their portion of the rent and/or utilities.

We eventually worked our way off of government assistance and we are doing very well financially.

Unlikely.Does that 5% for repairs account for turnover costs and the costs to do repairs when you eventually have a bad who trashes your house?