Also, like I said I'm open to foreclosed properties if they also either have occupants or if they have a low sustainable price point.

For many markets outside of the BA, this might not seem sustainable nor prudent. 

in some markets this ship has simply sailed.. not enough distressed assets to sustain a viable business regardless of  license issues etc. 

In my case, a steak dinner is a tradition but the major portion of your funds should only be used to build, protect and enhance your asset’s ability to produce and sustain income generation.By taking on responsibility in the housing market at such a young age, you will have some added benefits and opportunities coming to you.

You just have to choose the one that resonates with you the most.

I can live comfortably on 3k/month which translates into 20 properties cash flowing at $150/month, or 15 properties cash flowing at $200/month.The confusion for me lies here - in my mind, when I purchase a property, it should effectively be able to sustain itself.

If you have listened to Rod Khleif's podcast and his message resonates with you, then for you'll definitely find it worth going to his live events.   

Very few home owners believe the price will sustain at this stellar level and are cashing out their equity.  

The two main goals right now are to tenant-proof the main house the best we can (removing old carpet, replacing with laminate, removing the cracking kitchen tiles with the same laminate) and to try and take advantage of the weird situation that is 'the shop' out back.It doesn't seem cost effective to try and plumb an extra bathroom or turn it into a self-sustainable MIL unit but maybe I'm wrong? 

to house hack is nice, but make sure you can sustain yourself in times of vacancy and repairs.