An educated buyer like yourself probably can go forward with confidence that all relevant financial implications are known already.

It ultimately depends on how confident you are that you can flip a condo in Miami.

(In retrospect this was not my brightest moment but probably my most confident moment.): I charged the huge amount of my they asked for there education on my credit cards and even opened a new one (dumb)  with the cheers that I'd be able to pay it off in the first 3 months.

The knowledge and confidence gained from this long but very inexpensive education has been invaluable, and I can confidently say that, while there are many (many many many) more experienced investors out there, I am among the foremost experts in my small market.I hope this helps you.

I'm a newbie so just trying to do what is in my means as I learn and build confidence.

I agree with Josh, but want to add if you are needing to build your confidence do what you mentioned and start with some small multi family.  

Great idea @Dave Foster.

If you have, or are very confident that you WILL have enough to pay in to refi with roughly 25% of the purchase price to close, then maybe this is an option.  

I'm making progress everyday and I'm confident once the right tenants are in place I'll be smooth sailing.

A little bit of knowledge goes a long way in establishing the confidence to take the first steps into becoming the master of your own financial destiny.I’d love to field questions from beginner investors on the process or hear feedback from the more experienced investors.