If your running a good, proactive operational system you will have ample notice of a tenants end of lease/move-out date in advance, will have gone in for a pre-vacancy inspection to get ahead of things including photos (if don't have them stored which, you should) to than immediately start marketing the property for upcoming availability. 

A 4 plex bringing in $2400/month purchased at $200k should have ample room to weather a downturn and still cash flow through it so how risky is the debt actually?

It had meat on the bone from an operational perspective for us to come in and re-evaluate/cut vendor contracts to immediately reduce expenses and then ample room to raise the income such as adding additional storage for tenants, charging for covered parking, and then increasing rents to market rate.

My biggest issue is finding a good attainable property that works number wise.

For example, if you find someone that will only do 65% LTV, your formula for offers has to be 65% ARV-repair costs, which is a steep discount. 70-75% LTV is easily attainable.

I think that this goal is 100% attainable.

In this game, you have to just jump in headfirst and you have been self-educating for almost 7 years, which is ample to pull the trigger. 

I currently work full-time but I am interested in RE.I would love to invest but my market at this point is not attainable since I make 50-55k a year, and that's peanuts in OC (I don't own a home, renting atm).

These deals seem more attainable price-wise, so Im not going to disregard them outrightYes, rn Im limited to FHA or Mass Housing.

The next evolution of attainable housing!