My biggest fear as an investor (and father of 3), is that I'll overextend myself and end up in the same position that a lot of people were in during the crash. 

Are there 14 bathrooms and state of the art sensors running 13 different furnace control units based on users position in the house.

I’m 37...I’ve read all the books...watched all the videos...and now I’m ready to take actionable steps toward securing my future though REI.

People don't get penalties when actions area taken rationally and defendably.I believe that you should never do something you know is wrong just cause you can get away with it. 

Yes, you can screen them, get referrals, etc, but until you actually work with them and see them in action it is a big risk. 

I would suggest figuring out how to get your personal finances cash flow positive before going all in on a rental property.

I'd say get more details on the financing, get an inspection on the property, and after you have that you will be in a better position to make a decision. 

If you have the cash position to go full time in business without a full time job maybe you give it a go but I know that is not the case for most people.

Hi BP,I am trying to figure out the best course of action to take and im sure this question has been posed many times on here but some guidance would be great..question is do i try to eliminate as much debt as possible first or do i save as much money as i can to invest / purchase properties? 

As someone who runs a portfolio of rental properties valued over $50M+ as well as a General Contracting company that will do well over $3M in renovation sales this year i've got to say a guy in your position doesn't yet know what he doesn't know.