The rental income from the first home will pay for the mortgage/monthly costs.  

If the properties are split into more than one LLC, then each LLC will need its own accounts.Checking: collect all income here, then use it to pay bills.

For example, I see newer investors attempting wholesaling or bird-dogging for other investors to generate additional income to invest.

After years of focusing on my career and building financial stability, I’m ready to dive into real estate investing and start creating passive income and long-term wealth.My short-term goal is to purchase my first duplex or single family rental. 

I own a small portfolio that brings enough income for me not to have a w-2 income.

The risk of "piercing the veil" applies more to LLCs when personal and business finances are not properly separated, not necessarily to individual landlords renting a portion of their home.A more practical approach is ensuring you have a solid lease agreement, sufficient liability insurance (including an umbrella policy), and properly reporting rental income and deductions on your tax return (Schedule E).

Build up job skills, build up savings, and increase your W2 income.

Both higher income yields and appreciation in value. 

Throw your experiences in comments below; I'd love to hear success stories and/or horror stories!

in my experience doing this in Vegas - the gross rental income is about 50% higher.