Ideally you would want a setup where all your expenses are being covered by your passive income and keep the 300K as a contingency fund.

I deal with investors that are looking to buy 1 property, all the way to multi million dollar hedge funds in Central Florida.

This would be very ideal for the long-term I think.

Now before you do this it would be ideal to get a job on 3rd shift or late night so you can work a bunch during normal working hours, but regardless, you give them as many hours as you can.  

My auto insurance company, BMW and myself were sued by a mechanic who replaced and an airbag in my car. 

Ideally you want them to look at this as soon as possible so you know what to include in your rehab numbers.

You ideally want to have 10k in reserves AFTER buying your first property...so you might want to have $30k total. $20k towards down payment and closing costs, and the rest for your reserves.I know it's probably not the answer you wanted to hear but you don't want to be caught with your pants down with an unexpected expense, eviction, or vacancy.

Sorry, auto correct using my phone the company name is TD REAL ESTATE.

The ideal situation is that the relationship with the mobile home owner lasts for more than a year. 

@Jack HensyDetermine what your ideal "occupation" would be.