Would not need to make vast improvements. 

If you don’t want to pull out all 22-26, you could even find deals where 10-15k is a sufficient down payment for a property that cash flows.Max

I have sufficient cash reserves to handle the inevitable repairs/replacements that WILL come up.

We handle ours a bit differently we dont create a savings account for it but we do think about it regularly and monitor our balances to make sure that our company accounts are growing sufficiently to ensure that these bills are manageable. 

This is the power of trusts and why trust are so strong and vastly used.

You simply calculate all expenses, establish a rental rate that will meet your cash flow requirements and move forward assuming that market rents are sufficient to meet those requirements.

In the vast majority of markets in Southern California, your rental income on a 580K house is not going to be sufficient to cover your mortgage and your expenses, so you're likely to either be in negative cash flow territory or get such a low rate of return that your ROI is terrible.

Not just because the vast amount of knowledge between the people here, but because there are good people like yourself that can help motivate someone after their first “loss”I’m excited to grow with this business and appreciate all the criticism and motivation from others because it will just bring me that much closer to achieving my goals.

At this point, I have four options:Reinvest the 10K again and repeat Phase II,Reinvest the 10K again, plus some of my earned income,Reinvest the 10K again, plus most of my earned income, orReinvest the 10K again, plus all of my earned incomeContinue growing my reserves by working at my 9-5 job.Continue learning REI.Phase IV (2020-2021): Repeat Phases I-III for the next two years.Phase V (2021): Have 50K in cash to start investing in rental properties.Find a 3-4 bedroom multifamily unit somewhere in northern NJ and house hack it via FHA loan.Have sufficient reserves in case something goes wrong.Continue working at my 9-5 job?

I understand that any false answers or statements made by me will be sufficient grounds for denial of application or potential eviction."