With your skillset and limited finances, it might be great to be a small partner on a deal with another flipper or be some of the work on the deal so you can see how it feels time wise.

Forget about quick flips and focus on acquiring and holding properties like a wise owl.

Many investors do this and don’t see issues, but it’s best to proceed carefully and know there’s some risk.You don’t necessarily have to inform the lender, but it's wise to consult a real estate attorney or CPA to guide the process and minimize risk.

I just think it's wise to survey the opportunities in your area for both and find the best deal vs. upkeep meaning don't try to also do value add on a large scale.

If they lose 1/2 of the $500,000 they still have $250,000 and that is still enough to do anything in REI career wise.3.  

Also---you need to make sure whoever did the rehab did it correctly (no point in paying a premium price is the work isn't done correctly)...lastly if you pay for a turnkey property...how do you know the tenant is paying a market rent and is a good tenant (credit score wise, payment history wise) etc?

Cash flow is a mechanism of leverage(min 1.25 DSCR).If you want to get even craftier, then of the cities you've set your sight on criteria wise try to go in as inventory increases.

Again, not my main goal but it also doesn't seem wise to be short $600/mo. 3.

Most likely, the only way you will find something like that is through private lending with friends/family.What is low money down to you, percentage wise? 

@James Wise usually chimes in on this!