Everything else, any motivators and techniques you pick up and employ to increase or 10X your life and productivity are a bonus. 

Currently we can pick it up for $95k and it needs about $30k in rehab. 

As far as qualifying goes, I wouldn’t worry since I believe you guys will pick to rent first thus giving you time to build up employment history.

Most banks take 30-45 days to close while my private money lender takes 14, a seller will always pick me over the financed buyers.

J Scott Not sure how you picked up evading taxes out of that but not my thoughts at all.

But I also see 1% of the capital raised, 1% of the total of debt plus equity, and 1% of the property value (typically determined by a cap rate specified in the calculation in the operating agreement).  

So to answer your question on getting started - I would pick a market and start thinking about what kind of property you can buy today, with your capital.

This coverage helps with that.Personal property loss settlement is what determines how they pay for your personnel property.

If it was me I would take the risk as long as I was able to determine if the economy tanked for a year or two, I would still be able to be solevent.

In this scenario, what determines how much skin in the game I need?