The agent is probably advising you of competition so you can put your best foot forward.

If I want to cut a sheet of plywood into foot wide strips, the table saw is better.

Hi @Joshua Biondi -If you're wanting people to submit an application and pay you a fee before they've ever stepped foot inside the property, I'm going to guess that your virtual tour will need to be pretty impressive. 

Per square foot, you might find you get more by targeting motorcycles. 

So, in that regard look for a LOC allowing you to put cash offers on good deals.Then you can get other investment properties, rehab them, rent them and then refinance in long term fixed rate loans, repay the LOC and repeat the process, thus using the LOC as your own HML, and putting the equity/money in your house to work for you.And I think the sweet spot is where you have enough positive cash flow offset by depreciation to a zero tax foot print.

In general they are more economical for larger square footage then a smaller Square foot SF. 

I'm anxious to dive into this game but with a family that doesn't yet see the big picture and 2 small kids, it's going to be a bumpy start with time commitment.I'm convinced on the mentor/knowledgeable partner to start off on the right foot.

The kind of person who is always found on the sidelines, never in the game, terrified of putting a foot wrong because he spends his whole life running from risk and sneering at anyone who actually tries to do anything useful.You should worry more about being those things than bring broke.

Surely the insurance carrier would put there foot down and cancel the policy, which would force the home I to default being uninsured and no one to pick it up?

You already have your foot in the door because it wasn't a "No".