I have read through Michael Blank's Financial Freedom with Real Estate Investing and am ready to go on to next steps. 

When investing OOS, make sure you work with an investor focused agent so you're able to get a good idea of the different areas and make the right investments.

Chapter 11, "Hone Your Skills" section has this practice question: "What is the IRR of an investment that costs $75,000 up front, earns you $22,000 per year for four years, and then generates $115,000 at sale?"

When looking at your next investment property make sure to look at what is the max rents you can receive for that property. the goal is to cash flow or at the very least break even at 75% of rents received.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

However, if you are not in a single family zoned area, they may not check (I know of such cases).  

My name is Jackson, I am an Investment Mortgage Consultant.

And without a solid budget, you are even less likely to get a lender to sign off on the deal.The best way for many to get started is to find a friend or family member that has money and can invest in the deal for the lion share of the profits.  

I'm trying to learn as much as possible to gain the confidence needed to invest in my first property.

It’s my opinion that many investors have the wrong mindset when it comes to real estate investing.