@Jordyn Ohs Suggest you run a financial model and assume 100% vacancy.

(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

Quote from @Kailas Tare: When deciding which market segment to target in real estate—whether it’s multifamily (MF) properties or single-family homes (SFH)—it's crucial to consider the dynamics of the competitive landscape and your own financial position.

Whether it’s an offer to purchase a property, to provide equity capital, or to provide financing, I merely state the price/terms I’m willing to pay.

Are there other legal or financial consequences I should be aware of?

Bigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

In fact, some of them have been in the news lately and popped up on the foreclosure list as they are in trouble financially as well. 

You're not helping them either...you're allowing them to run a tab that is putting them financial ruin. 

Do some research into both areas to see which aligns best with your financial goals.Good luck, and feel free to reach out if you need more help!

Meet with financial advisers/wealth managers and see what other options other than real estate there are and how to best allocate / diversify. ie have you maxed out your TFSA?