Make concrete plans on how to achieve those goals breaking them down into as many steps as necessary.

Remember real estate is generally a long term investment and plan accordingly.

I recently talked to a local insurance agent that has been assisting some of the out of town buyers with insurance policies and the majority of them have purchased these properties sight unseen without any knowledge of the neighborhood they're in, school district, condition of the home itself apart from the pictures with fresh paint and new countertop or even seeing the homes surrounding it that have been condemned by the city. 

I just got a quote from my primary insurance company.

Start with a marketing plan.

Our plan is to add a shower.

@Bruce Tieuhouse hacking is a great way to get started and I think your plan is great - but I would reset your expectations on the numbers:1. the goal of a house hack isn't to live for free. 

Let the insurer take whatever steps it finds are necessary up to and including payment for the loss which may or may not be as much as or more than the amount of insurance.

Quote from @Steven Gesis:   Brian, I read an article in Bloomberg the whole premise of the business plan for a particular operator was a "double pop" and a short-term fix and flip strategy all focused on high velocity  multiple refinance events, floating adjsutable rate and the hope and faith of continued rent growth coupled with low interest rates in multifamily -   I wonder how this is working out for them now.

Hi, everyone,I am new to real estate investing and plan to start investing this year.