As I have gotten older and started my career I've realized how important it is to have multiple streams of income.

Like so many others, I attended the free guru and the paid three day weekend seminars with my best friend because she needs a career change. 

Obviously we want the property in an LLC to reduce tenant lawsuit liability etc, and my wife is especially aware since she is a doctor and lawsuits could adversely affect her career.  

Just an FYI, you are going to meet lots of people throughout your career that are "begging for properties" until you actually bring them the deal and they pick it apart and come up with every reason why it won't work for them.

If you're going to buy & hold, at some point it may help (for the reasons noted above), but there's so much else to learn that is directly related to your core business, I'd recommend starting there and considering licensure later in your career, when it will pay immediate dividends.

I'd also be working at getting a better job (thinking of taking on an apprenticeship), I'm just curious if this min. wage theory can work and would like to establish myself in a town I like first, rather than having my career dictate where I live.

I am a commercial construction manager and my career skills have certainly helped my property investing business.I'm sure you will do just fine with your properties.

Does anyone have any thoughts on how much someone should save prior to starting their real estate investing career?

Forbes just recently ranked us  #1 on their list of The Best Places for Business & Careers (http://goo.gl/MCSO97) and we consistently rank in the top 10 on all of the other random lists that similar publications put out.

Lost income due to attempt at change in career.