As a newer investor the only concern with owning in personal name is when you have an "institutional" mortgage on the property.

Agree with @Michael Hacker, the extra weight might be your biggest concern. 

What about liability concerns from tenants or creditors?

You can even diversify across asset classes - think MF, self-storage, mobile home parks, office space, etc - AND geographic location.One limiting factor though is whether you are accredited or not.

My concern is if we buy a turnkey property and put 20-25% down, how would we be able to add value to the property in order to refi at a higher price so we may get our initial money out and use it to buy another one?

Samuel here...I have some concerns about your first purchase.

I'm not sure if it's a major concern or just something I'd have to deal with over the years. 

I have an interview with someone for a loan processor position and one of my main concerns is getting hired on and not getting to the LO position fast enough.Do you think it’s wise to take a Loan Processor position (if offered) and then be promoted?

I'm still in the beginning phase of my career and want to learn as much as possible before I take on my first property.My first concern is not having the money for a down-payment, what should I do if I do not have any of my own money to use?

I would sit down and have a heart-to-heart and be totally upfront about your concerns about the price, so your realtor has a chance to address them.Sending you a PM with contact info for a terrific local appraiser.