And has the same long term goals as me (both young 20s and want to replace our current work income with passive to travel).I'm looking for advice on the risks of investing it in real estate (currently in stocks and bonds).

Anyone else have the thought that good cash flowing rental properties will outperform index funds over many years hands down?

If the funding is for the LLC, perhaps try to get the loan in the name of the LLC and then do a personal guarantee if need be.Secondly, the other questions you asked can be done in several ways. 

Also, is there a way to fund the down payment since I don't have 60k to put down?

Should I focus on just securing funds for the down payment and closing costs or should I be concerned about creating some sort of reserves for said rental property (to account for any vacancies and expenses)I assume I need to make sure that in the event I cannot rent out the property we are able to cover the expenses relating to this house in additional to our own personal mortgages but I’m not too worried about this (please let me know if I should be worried)Outside of my mortgage and some credit card debt which will be paid off by the end of this month I do not have any other debt.Are there other factors that I should be considering?

They lend from a High Equity Fund from Private Investors.

Do you still have cash, lines of credit or other funds that you can use to get your next deal in? 

But rather than a third party grabbing the house at a discount, the borrower can, and must obtain the funds and show they are on the borrowers account, and then the mortgage is simply settled. 

This all depends on if you need the funds out of your current flip before buying a second.

If the funds aren't there to justify the change then you look at the next use that makes economical sense and is allowed with zoning.