I plan to do one next year (refinanced out of my prior FHA on 4plex) for another 4plex that better suits my needs and neighborhood choice now.

You made a great choice to jump in!

We are in a similar situation with a property and although we would be making more (closer to 25k after all costs/fees) we have decided that having the liquid funds is more beneficial then the small amount of cashflow we would be receiving.

Although it's not my first choice, I have purchased a property while on a business trip abroad.  

The friendship or the money because at one point you may have to make a choice. 

KyleWelcome to BP Kyle,Great choice of markets and you have a head start as you come from the area.Columbus has lots going for it.

., an LLC/business entity could be very beneficial.

It may or may not be your best choice for a job.But the underlying thought is the answer to your question about cash - find a job (maybe you already have one), and spend less than you make and accumulate the rest until you have enough to start buying properties.

Just make sure to analyze and make sure you make smart choices.

That is beneficial as well.