I plan to short and/or mid term rent it out and the numbers look reasonable without flood insurance. 

I do plan to buy a property with 30% to 50% off and have it "acts" as a margin of safety.

This City required individual lot grading plans, signed & sealed by an engineer, for each building permit.

Yes like Min said, its great to have a plan but I would say the action is much more important - I did a few bad deals and learned so much more than I would have if I was just sitting on the sideline planning things. 

In my opinion, I would just plan to reduce your living expenses so you can save up more for your next deal, it doesn't necessarily have to cash flow for it to be a good deal

And yes I plan on buying more property in 2025 and it may be in a new city/state.

Quote from @Chinelo Ononye: Hello, I am Chinelo Ononye born and raised in Atlanta, my home is Chicago but planning my move to Dallas. 

Have a house I was planning on using as a long term rental, but been asked if I would rent it for 6 months.

Without getting myself into a get rich quick program, I thought asking all of you good people here your thoughts regarding financing, project planning and experience requirements. 

Each step brings you closer to achieving your dreams, and with careful planning and perseverance, you’re sure to find success on your real estate journey.