BUT, your all-in cost for that first investment should be aimed at being no more than 70% of its post-rehab Lender appraisal.

I would aim for a more conservative 10% as best practice, or 8% as a safe practice.

He bought a 3.5% 5 unit (50 k for 1800 rents) thought it would be a cash cow and would supplement his already laid back retirement..

Aim High!

When it comes to MHP unless u know what your doing I definitely WOULD NOT Fire, Ready, Aim.

Question 3:  Is all of the knowledge needed to  pursue any of the careers mentioned in #1, exclusively found in the classroom (paid for), or is it supplemented and enhanced continuously after you have "paid" you dues?

I am aiming at having the mortgages paid off in 15 years.

(Hoping someday we'll be in the position to aim higher!)

Use the 80% to cover rehab, and supplement with friends / family or hard money to finish the rehab.

Then good investments can start to multiply. 2 years into my house hack of a multi I am at 23 units, quit my full time job and only work part time to supplement my rental income.