Then you can expand this strategy to different markets and track ROI on each individual campaign so you know your money is being spent wisely.

Daphne V. if you are just starting and want to be simple (as well as free potentially) I have no problem telling people to get started on Excel (or Google sheets) to track and categorize expenses.  

I would say that you are on the right track, but you can also buy way less risky properties.

If you have a track record of doing this, the banks or other investors would have no problem supporting you with money. 

Teaming up with your girlfriend will be great for helping each other stay on track and focused.

I'd recommend getting a few deals under your belt and to keep track of the results with the goal of using them as a confidence boost for future potential partners/private investors. 

I wish there was more in there to track the performance of the property (cash on cash returns etc.) but its more oriented to property managers, less to investors.

It's exciting, we're on the right track!

Partnering up and investing in flips or buy and holds gets me into the game of being an investor right away and helps me build a track record for lenders, which opens the door for better financing eventually.

Generally speaking on SFR's there simply is not enough equity for the Fed to do this.. they just track the defaulting owner.. the lien is removed from the property after 120 days but its still valid against the tax payor.