Especially if it is a single family home.Are you currently working with an independent agent? 

In Independence.  

I'm much more at ease at the thought of building my passive income and achieving true financial independence through real estate. 

Flood Insurance Cost2. availability of property coverage based on proximity to the coast (windstorm exposure)Neither of those will prevent the deal but the costs of the insurance should be researched before you go forward so you can factor that in.There are now multiple private market Flood Insurance providers (Non-FEMA) and I would advise checking them as they can sometimes be significantly less.Contact a good Independent Insurance Agent with multiple markets and get some rough numbers for a sample property.

Perhaps having more money available promotes a sense of independence?

I am super excited about having some financial independence and I am eternally grateful for finding bigger pockets.

Once we really wanted to work toward financial independence, we needed to save every penny we could. 

Each brokerage is independently owned and operated, so their policy on minimum commission will vary.

Expected level of finishes...and the list go on...If there are many graduate students you might be able to get the house rented also mid year as they tend to move more and are more independent (going to fellowship in mid year...returning from research abroad etc).Are you looking at places which need rehab?

I can assure you that the road to financial independence, the road to riches, the road to wealth, whatever you want to call it, is littered with failed attempts to do what you are describing.