I attended the FHA home owners education class and received the certificate of completion, so I am working with the lender on the 3.5% down and down payment assistance, so I have less money out of pocket and can focus more of my funds on renovation and increasing equity.The properties I am looking at either have basements that are finished, or basements that I can finish myself to rent out separately either on a month to month basis, or as an AirBnB, or they have detached garages that are big enough to convert to a studio, or AirBnB. 

So I should be more focused on the current value than how much I currently owe?

Am focused on northern NJ and Manhattan. 

Focus on the long game.If I were in your shoes, I'd be thinking about increasing my portfolio (1 unit to 2-3 units). 

Would it be advisable to link up with an experienced wholesaler now and work on a few deals or should I focus more on my realestate license and work for a sales company to learn the market.

And without the risk associated with borrowing for fixed assets on your own.There's no real downside to this equation as long as the DSTs are solid and your focus for growth is on the cash side. 

I plan to serve the notice this week, focus on unit rehab in 2 months time (if the tenant can get out by then!)

We are focused on long term investing and after a few polished up deals will be looking to employ BRRR.  5 year goal is 50 units and $50k cash flow.  

The fact of the mater, I think it would take a minimum of 5 years of consistent persistent focused action as well as a measure of luck to come up with $1M when starting with little to nothing and working part time. 

@Julie Hill What option(s) you decide to take will be dependent on: Balance sheet  - how many $ are you willing to invest, how quickly and for how long;Time commitment;Risk/return expectations - newbie investor only look @ returns, whereas they should be focusing on understanding riskLiquidity and risk tolerance - closely linked with the earlier point on risk/return expectations.I would focus on picking a niche and taking a deep-dive.