The units will all rent for $1200 for a two bedroom unit, so if I can buy that unit for 57k I am able to achieve much better cash flow. 

currently in Utah theres no 40k deals that rent for $1200, to achieve that , you may have to choose a different market.

I would figure the homeowner's would cover you and your possessions as the homeowner... but since it is the landlord style of home owners... it may not cover personal possessions. 

Some of my associates have achieved over 100k of appreciation in DC in under a year so many volley for that as opposed to 8 percent.

@Shu Matsuo PostYou have an aggressive yet achievable goal.

If you want 20 units in 5 years to meet your passive income goals, then create a realistic plan that achieves that goal.Once you have your roadmap you can start filling out some short term goals to help you meet your longer term goals.

It shows that with hard work and determination you can grow and achieve all of your dreams/goals.

Earning a lower CoC return while learning the business could be a better way to manage overall risk.When it comes to financial freedom, you can absolutely achieve this with cash flowing real estate. 

Do you have any recommendations on paint styles, carpet, vinyl flooring, etc.?

It's important to keep your personal learning style in mind.