Also I am a newbie and want advice on how I should go about purchasing my first property and what I can incorporate into my day to day life so I can become a better real estate investor overall with finding deals and the right markets.

I am pro entrepreneur and can't see myself enjoying and succeeding in corporate America or traditional job.

I spent 10 years in corporate finance before getting into real estate and quick math confirmed 89.6% of our networth was indeed in real estate.

You say 4K a month in "cash flow" are you incorporating maintenance capex and turnover vacacancy?

You should incorporate escalation clauses into your lease

You may need a Renovation Builders Risk policy that covers the existing structure and the improvements as they are incorporated into the building.  

@Preston Rogan You can more easily qualify for a DSCR loan for investors which doesn't loan limits (you can have more than 10) and doesnt incorporate DTI or VOE into their underwriting guidelines. 

There is always creative options that you could incorporate into buying your primary residence.

If its an illegal duplex, more than likely the utilities are all shared and you will need to pay them as the landlord and incorporate that cost into your rent.

The best company to incorporate is PayRange.