If the student has a lot of money and a very healthy balance sheet and banking contacts that is as importnant if not more so than knowing the difference between a header and a joist or in what order you build the house in :)

* A one-week vacation around July, and 2 or 3 weekend-getaways throughout the year to decompress* Keep family healthy throughout the year, however we can, with safe social practices* Stretch goal: buy our first no-cash-whatsoever property (OPM)* Stretch goal: Buy as many good foreclosure deals as possible with other investors, if that's a thing in 2021

Even if you invested years later, there is still PLENTY of meat on the bone for a healthy profit. 

COC is that same here as it is on the moon, but you are correct...the odds of finding healthy returns in your area are slim...there is a lot to learn and its all relative...my good deal is not necessarily your good deal...I think people that invest for cash flow are playing a fools game because I invest for long-term equity.

Here's a healthy discussion of Pace Morby specifically.https://www.biggerpockets.com/forums/79/topics/1001612-pace-morby-mentorship

I have no debt what so ever, a pretty healthy savings and finally the chance to do something I enjoy and Im passionate about. 

No problem.My question/concern is regarding protecting myself against some future claims related to his health. Is

After that, since where I live is one of the wealthiest counties in the country (and no I do not live in one of the wealthy parts), I think my best bets will be to invest outside of my market with the BRRRR strategy, but I am also open to the idea of investing locally at the right price.Anyway, I just wanted to introduce myself & I hope everyone & their families are staying happy & healthy!

Your 500k budget is pretty healthy, you have enough for downpayment and reno if needed.

I also hope everyone stay safe and healthy throughout these unknown times ahead of us.