To avoid any problems with your tenants I’d hire a property management company for 1 year to take care of the issues.

Lots of questions: Which neighborhoods should be avoided? 

Beyond real estate investing, BiggerPockets Money has great episodes on how to avoid the middle class trap with your investments - ie how to structure your investment best so that they're not all locked up in accounts with penalties until you're 65. 

My ultimate goal is to build a portfolio of cash-flowing properties to achieve financial freedom.I’m currently seeking mentors who can guide me through this journey and help me avoid common pitfalls.

@Polat Caglayan we can answer all your questions, yet you avoid setting an appointment with us.Very interesting approach you choose...

They may look at 10-15 rentals and if applying ahead is required they might be spending a full months rent on applications and not like any of the places. 4.

Since moving into another fixer-upper isn’t ideal right now, consider leveraging your $40K for a low-money-down investment, like house hacking a small multifamily or using creative financing (seller financing, subject-to, or partnerships) to avoid tying up all your capital.

Tell them I had this done and I was unaware of the requirement and will abide next time.

.✔ Avoid Surprises – Owners expect clarity on additional charges.

If the repairs are manageable and you’re getting at least a 10-15% discount, it can be a great deal—but avoid properties with major structural failure or uncooperative sellers.