The purchase price is going to be reduced to $16K and the rental rehab is estimated to be $45K.

Without this the rest of you liability tiers may be voided.2 - Umbrella policy - pretty much another no brainer - its cheap protection. 3 - manage debt loads - if you are comfortable keeping a higher debt limit, it is a strategy to reduce your net worth and make that target smaller. this comes into play when considering tapping equity in existing properties.these 3 should get you started. but its all up to your own risk tolerance.

I'm juggling the completion of a few project out of town right now that is sucking all of my energy/time, but interested in building a network here with help.

I'd just work on building my credit, getting a good W2 job, and reading House Hacking by Craig Curelop.However, if it were me, and I was 18 with the goal of becoming a real estate millionaire and financially free by the age of 25.... then I'd get 2 jobs (preferably jobs that interact with the public and increase people skills), reduce all of my spending, save as much as I could, read all of these books twice, listen to all the BiggerPockets podcasts, watch all of the free webinars, read blog posts, watch youtube videos, go to local meet ups , network and immerse myself into the world of real estate.

After a back and forth he said if something was misrepresented then it was unintentional and he apologized and asked for an opportunity to make it right.His proposal to make it right is he will reduce the outstanding balance by 9K to bring it to 45K, and he will loan me the 6K difference between the 39k the bank will loan and the 45k outstanding.

The County reduced the tax rate by the amount that the property value went up. 

If I can find a multifamily that is good enough on price, I would want to house hack it to have my housing cost be free or at a very reduced rate.

Or is it because of the pandemic, you have to reduce rent?

Even though the 30-year has a somewhat higher rate, it allows you to make a smaller payment during bad times, reducing your risk.

I still don't have adequate expertise in this area, but got too much interested in this as I could earn better here than my regular job, even though I wasn't putting my entire energy and time.Before the pandemic, I was getting ready to be a full-time real estate person and was up to tie up with a reputed team.