Income/Cash flow would be nice but is not a necessity for my case until I retire in say 15 years.

Having reserves is not only a necessity when investing in Real estate but good practice for your personal finances. 

AC is a nice to have, but it is not a necessity.

Someone that loves what they do will usually want to keep learning and get better at it whereas someone doing something to just pay the bills does it out of necessity.

LLC May have some asset protection benefits, and may be a way to handle more than one owner, but not a necessity.

I've always preached to my kids that it's great to be in a position where you choose what you want to do rather than those choices be made for you by necessity. 

Remedying deferred maintenance items are typically seen as necessity items to be on par with “average” homes the area.

For what it's worth, my takeaway from the article wasn't whether to save or invest in stocks (or whatever investment vehicle) the only money that you have set aside for medical bills, reserves on properties to cover repairs/capital expenditures, or any other living expenses or necessities that may come up in our personal lives or businesses.  

I definitely do not look to discourage you at all I'm only speaking to the necessity of being extremely committed to thorough due diligence on these deals.Best, Ryan

You'll need to eat in, drive an older model car, and scrimp/save and only spend money on necessities until you're truly in a financial position to "splurge" once in a while on those nicer things and not have it set you back.