It's tiny, but at least the burned down house on it has been scraped and it's an empty lot. 

@Zeke Nickie So far the only two times I’ve crashed and burned in real estate has been when I’ve been involved with a partner so just be super careful if this is the path you choose to pursue.

For a while now I've had a burning passion to strive for financial freedom, experience is the only thing hindering my performance right now.

A lot of sellers are burned-out landlords who like the idea of "passive income"/mailbox money after years of chasing late rent payments, dealing with tenant BS and maintaining the property (I use quotes for "passive income" b/c no income is truly passive IMO, a wise seller will still pay attention to what's happening with the property in case they need to take it back, but collecting payments like a bank is generally easier than collecting them like a landlord, you can set up ACH with the buyer's bank or hire a loan processing company to handle it). 

Inflation could spike again we live through another Arthur burns era.

My day of wanting to buy a Jet is long gone :) that crashed and burned in 09 when the economy tanked and I had to start over.

Don't focus on price, if you look for cheapest you are going to get burned.

This is dependent if I chose to cover the A/C unit in my Home Warranty package.If I had a fire in my home in which a room burned down and my personal property such as TV's, furniture, etc was consumed in the fire, then I would call the Home Insurance company to fix/repair the burned-down room and also to replace my TV and furniture.

Then find a job that I can work so we don’t start burning through our cash, and with the remaining cash we have, start to acquire a couple rental properties and maybe try to do 1-2 house flips a year.

The cost to foreclose can be $100000 and the property can come back to her damaged or burned to the ground.