You need to make sure condo rules do not state only a certain percentage can rent out the units they own.You might want to wait for a property that has less (hair) on it as we say in the business for your first one.

I can't wait for you to get started.

If they are waiting for you to buy the house and get it rent ready- are they going to stick around if it takes longer than expected?

I guess what I am trying to say is if paid off, year 6 is when its the golden goose for me, if not, I have to wait til year 20.Hope that makes sense lol

I have one advice for you: if you have some capital to deploy in marketing activities to get leads and the patience to wait for over a year or even two to make money, then wholesale. 

wait, you didn't list the prosthe risks you mentioned are correct, but can be mitigated and not nearly as bad as you said. you "risking it all" isn't really correct, market drops are temporary, you can get your money back out (and more) using BRRRonly focusing on the downside is a hard way to get ahead.

Or is it best to just save the cash flow and wait for things to calm down and buy more when the opportunity is greater?

I am think about hunting down a wholesaler or two but I don't know if they'd want to wait through the 203k closing process to get paid. 

Don't wait or give a third chance- put your best people on your biggest opportunities.5.

They just write a check and wait for a return.