The VERY best resource you could efficiently absorb is the @BiggerPockets .com podcast (https://www.biggerpockets.com/podcast). 

It also is one of the 15 states absorbing 71% of the US population in the next 20 years. 

I’m going to absorb all this great information and advice from this amazing group, and really do my research before I buy anything. 

I'd recommend that you join your local REIA, partner up with an experienced wholesaler and absorb as much as you can from him. 

They say, " if you can't take the heat then stay away from the fire", in other words if you can't absorb the cost of doing business then you are in the wrong business, simple as that.This is why I can't stand all of the jerks selling people on the concept that people can do real estate with absolutely no money, no credit, and no experience. 

Run through the numbers again see if you can absorb the negative for say 5 years.

If you've managed to get 3 of the 5 under contract then locate an asset that would absorb only those three and use the other two for a different property when they sell.3.

In my context, I am saving money for my first real estate deal and it is hard to know if I can absorb the negative impact of a failure without the long-lasting effects.

Take some time listen to and absorb his thought process.

You can buy great looking laminate at $1-2sqft at Lowes, plus underlayment (definitely install underlayment/vapor barrier, it helps with the water problem and also helps the floor absorb minor leveling imperfections).