You can use your seed money to get into rentals, then cash out while rates are really low (and you have a W2), do it again and again (the BRRRR). 

Georgia has some great low cost properties I've seen.

Home is located in Frederick County VA and having a hell of a time finding any regulations on rentals in this county and wanted to see if anyone here knows if there will be a problem renting home based on low ceiling height. 

I have absolutely no experience in real estate and don't know where to begin, but a trusted friend steered me towards Biggerpockets so here I am ready and willing to learn!

The dumps in those neighborhoods can be bought in the low 5's. ie.

I've heard Memphis has good rental deals at low prices. 

Hey Doug,Absolutely!

Most conservative folks would say more than a year but there can always be circumstances where less may be acceptable or more required.You're absolutely right about the enormous tax bill generated by ordinary income coupled with self-employment tax, and HCA surcharge.  

Ideally my first deal would be a flip in the low 100k range.

@David Lehane In the large multifamily space in Memphis, you would need a absolute Property Management Ninja who has long time experience and specializes in this space.