It sounds like your mindset is focused on minimums instead of maximums. $5K is good for an emergency savings account in case the transmission goes out on your car.

We are going to narrow our focus to one of these markets for now and get our feet wet by finding the right realtor, property manager, lender, and contractors in the market we choose.

Any connections or great investment-focused realtors and property managers you can suggest? 

Just make sure to hire a realtor or PM company that specializes or at least has a focus in leasing.

My biggest motivation for doing this is to be able to achieve financial freedom, hopefully within 10 years, so that I can focus on other things without being too preoccupied with money matters all the times.

Everything I listen to and most of the forums on BiggerPockets it seems focus on 30 year mortgages.  

When you finish making payments on the Big Dog program do you get your medical license with a veterinary focus?

Just in case you are open to north of you, I am in Temecula, CA and focus highly on investors. 

If you can’t afford one look into legal aid, there’s almost always someone there you can talk to.Just because you agree to someone doesn’t make it legal.

What area of Rockford are you focused on?