I suppose you could get financing, but the logistics involved make this difficult.

Whether that's the buying logistics, what the returns can be with a partnership, and someone's own comfort levels or desire to deal with partners.

That 1/2 bath was a logistical feat given the need to run all plumbing, plumbing venting & heat vent runs.

I've had a great house in Seattle for me and my family for a good while now.Just to clarify what I mean when I say risk, I'm talking about total financial risk (which is why I'm limiting exposure to a tolerable $50-80K in cash outlay and will be looking closely at liability issues) and the risk of biting off way more than I can chew from a time, logistics, and experience standpoint.

I would think any rehab/construction during winter in cold weather markets would be very difficult (if at all possible), and logistically even more so when managing from out of state..2) How do you weigh smaller markets vs larger markets? 

I like things like logistics and healthcare.

So if I get let's say 20 properties, and I'm managing them under some online software system, doing the accounting through quickbooks, should I keep separate bank accounts for each property?  Then, is there an automat...

From there, you need to have a good and trustworthy plumber look at how it’s run and discuss the cost and logistics of separating it.

I am currently an Army Officer in the Logistics Corps. 

Not to be harsh, but the mere fact that you're asking the question tells me you have little understanding of what's involved logistically and financially.