Plumbing is a different story and will vary with the plumbing set up and your skill level.

Every market is different, skills are different, location matters, proper due diligence matters and your individual lifestyle even matters.There are millionaires who live very humble lives and you would never know they were wealthy. 

I personally feel it's more bad than good, but others will have a different opinion and it probably depends on your market and skills as a manager.

You have enough money to furnish a property *fully*, and (this is vital) you have enough money to hold in reserves if/when things don't go perfectly, but you don't have enough to put down a 20-25% down payment to own.

My suggestion would be to read 1-2 books/articles in each space and then set up conversations with 1-2 investors in each space to truly understand what skill sets, etc... would be needed in each avenue.

@Cory Vitale @Max Emory Thank you both for your detailed replies and all the great advice! 

The properties I am looking at are on the MLS because I feel I do not yet have the skills needed for off market dealsThese numbers are even with a 25-30% down payment.  

One distinction that has not been brought up, a legitimate service animal is there to provide some vital service for it's handler therefore is never left home alone while everyone goes out shopping, dinner or sight seeing.  

There are people on the Internet who teach this skill for price- I don't have a direct recommendation, but they're out there.

Most CPAs have the research skills and experience to sort out state-specific issues.