If you can't manage to save that much money, then you probably shouldn't be starting your own RE business.When you have saved up the money, go ahead and hop into a real estate career.

At 19 years old, I am taking more risk than at first I could stomach, but now I got use to it, which might be a bad thing, but I have so many years ahead of me to make the money back that my Time Horizon:Risk Tolerance is way in favor of taking risk.

That no mechanics lien, mortgage lien, child support lien, IRS lien, etc is ahead of you, unless you want them ahead of you. 

Go ahead brag like the big guys!  

If you or the market hits a rough spot, and you are forced to sell at a loss (bring cash to the closing or short sale) or give the property back to the bank (foreclosure or DIL), you WERE "over leveraged" ... figuring that out before that happens is the trick :) And no, cash flow alone can't always prevent such an occurrence ... cash flow can dry up in an instant ... it can normally get restarted provided your initial projections were not that far off or too tight (which they are in the OP's case IMO), but how long and how much money it takes to get it flowing again is a tough thing to answer ahead of time.

As it turns out, I decided to go ahead with purchase of the property anyway and save for the roof repair out of cashflow. 

I can go ahead and apply for a new card straight away?

July stats Single-family home sales rose for the tenth straight month, up 5.0 percent year-over-year with 7,440 units sold;On a year-to-date basis, single-family home sales remain 6.8 percent ahead of the 2016 volume;Total property sales increased 4.5 percent with 8,821 units sold;Total dollar volume climbed 7.5 percent to $2.5 billion;The single-family home median price remained statistically unchanged at $230,000;The single-family home average price increased 2.4 percent to $299,131;Single-family homes months of inventory grew to a 4.5-months supply, the highest level since September 2012;Townhome/condominium sales fell 9.0 percent, with the average price up 1.8 percent to $201,148 and the median price down 6.2 percent to $150,000;Leases of single-family homes jumped 15.6 percent with average rent down 3.2 percent to $1,815;Volume of townhome/condominium leases rose 12.3 percent with average rent down 5.1 percent to $1,546.

We definitely wanted to stay away from analysis-paralysis phase so we went ahead and bought the 4 properties, we hope those properties will be a good learning experience for us.

Just a heads up that you should be very precise about comps, streets, zip codes, school districts, etc.