I don't take your advice as discouragement, but more as a realistic picture of the risks of entering the REI game that most won't tell you. $20k has felt light to me as well, and I love the idea of having an emergency fund for each property I own.

I have a few of my higher priced ones in my personal name because you can have up to 10 conventional in your personal name and they have typically have lower rates, so might as well save them for the bigger ones.The majority are in LLC's. 

It will save you a lot of stress/prevent issues from spiraling. 

And cash is my only asset I have been saving for two years for my dream to own 5 properties before age 20.

Don't try to do everything yourself in hopes you'll save a bunch of money.

Good idea - I guess I am a little sensitive to this topic because I had to go thru an eviction process with the tenant before this couple.

I have been most attracted to the idea of buying undeveloped land and building a 1-2 bedroom cabin on it to turn into the STR.

If I had to save up and buy each house cash I would own about 2 houses now. 

@Sarah Kensingerundefined I like this idea.

We don't have funding, but are trying to build and save for this.