Is this a correct way of thinking, or should I buy anything that produces cashflow each month?

Look for one with a great track record of producing and ideally a short term to full payout so that you can pivot as you learn. 

@Mitch Staelens Congratulations on your first step towards your income-producing assets. 

Precise and organized work areas usually produce precise and organized work. 

Of course, my intention is not for that to happen and turn it into a good income producing property as soon as I can, but if I went with a hard money lender that would leave me with terrible terms if I didnt manage to turn it around very quickly.

For me this is a semi-regular meeting and it has produced some good understanding with the city permit office. 

Due to COVID, there are temporary flexibilities in place that allow for an exterior-only inspection in certain circumstances, and when the appraiser has enough information available to produce a credible appraisal report. 

Even with all the technology out there along with internet leads you as a seller can get from FB, Zillow, Realtor.com, and others you will be hard pressed to obtain a full sale as a FSBO.If you move forward with the FSBO listing, N.A.R. did go on to say that 88% (basically 9/10) of buyers utilized an agent to help purchase the home, which puts you into a position that you'll need to agree to producing commission for the buyers agent that is bringing that buyer to you to purchase your home.

Is there a high producer in your office who needs help so you can grab some Open Houses? 

You should still be able to house hack, and that likely will produce more value than even live-in flipping.