Is it important to have the cash reserves already saved up BEFORE you acquire a rental property, or is it okay to just set aside a percentage of your gross rent to fund the cash reserves after the investment property is acquired?

At your age, money should not be your driving factor it should be to acquire skills, money will come later and in boatloads if you develop your skills now.

I generally think its always a good idea to acquire more properties.

If you're working with an agent, ask them their process for acquiring multi family inventory, whether it is on or off market. 

The purchase of the property is $3,000,000.2. can I ask my landlord to lease the property for a term 24months after which the property will be acquired if not before?

I do agree with you about using leverage and other people’s money to acquire properties, especially turnkey since it is priced at premium.   

In the circles I am running in, those who've been practicing IBC for many, many years now, do actually have these policies and (a lot) of real estate as part of their portfolio often acquired by leveraging said policies. 

Let's say a seller is willing to take a seller finance offer on their property. What would be all the information I need to gather from them before moving forward with the purchase agreement? What are the documents th...

Purchase price: $168,000 Cash invested: $10,000 Acquired on the market in mid-2021, this single-family home was built in 2005 and was already turnkey.

Here is what I see when looking at their information.It looks like their first deal was a 14-unit acquired in 2017, so they are pretty new at this game.