It starts with educating yourself on the market and the space and developing the proper skillset.

For the past couple of weeks, I have been scarfing down as much education as I can and am really enjoying learning about real estate.My question is: when do you consider someone 'ready' to invest in their first property?

They have a successful business because they learned, failed, grinded and educated themselves to get to that point. 

It sounds like you need to get some more in-depth education, but I'll give some free information to get started: You need to market to find motivated sellers.Good luck.

Way too much for this thread, so you need to get educated, if you haven't yet.

If you want to self-educate, there are an insurmountable number of posts you can find by searching BP, either with the magnifying glass above or through google.You don't need lease agreements between you, the LLC, and the bank.Just keep track of airbnb revenues, rental days, and all expenses. 

HI you can look into https://www.nachi.org this is a credited home inspector education association and it is nationally credited.

Also, you'll find out that there are numerous ways to put together deals even if you don't have a lot of money.The key to being and staying successful in this business (as in most businesses today), is to get educated and keep your knowledge up to date as the market changes.

Offering some sort of education piece to those who lend to you may help attract more people wanting to lend.

Sure, with a paid off house you might always have shelter, but you can’t eat your house, or buy clothes with it, pay for your kid’s college education or even your utility bills.