So, I looked at the worst case scenario...if I go belly up on my first investment, can I make the payment and still survive?

I love a good challenge but I don’t know if the “juice is worth the squeeze” on this one.

Lock it up in contract and let the juices start flowing. 

An ice cold juice and a happy customer would be enough incentive for me.

I have spent some time in that area (hello Jelly Belly Factory and short hop to Six Flags)...

If the 'belly of the python' is 24 or 25, I would say we have a few more years of a strong rental pool.  

The problem is that the REI is going to be limited in both the number of refinances they can have at one time, and the total number of dollars they can have in loans at one time...and usually, the number of dollars is the bigger of the problems.The solution is credit partners, but the deal must have enough juice in it to satisfy all involved.  

And your at the mercy of a very steep learning curve.. your not going to learn the reality and nuts and bolts reading about this on line.. its a belly to belly business one needs to get in the game and network with those in the game.

Squeeze every bit of juice out of that lemon.  

I had my Real estate license and did probably 300 deals before I ever got on a computer and actually new how to run one.this is not a new business its an old business and its a belly to belly business and its one that requires work and CAPITAL  if you do not have Capital you need to get it.yes some people get lucky but most as you noted fail probably 97% of those who think this is a get rich quick business .good luck