Keep on using BP for all mentioned above to include meeting with other investors and finally when you have a grasp of what it is you feel comfortable investing in and it makes sense and you are ready JUMP IN!  

Was the $125,000 in cost the rehab or did that include the financing and holding costs as well?

A few action steps you can take immediately:1)  EDUCATION & CONNECT: Believe me, you haven't watched enough videos and books, BUT without any CONTEXT (which only comes from real-world experience) most of the information/knowledge you're consuming is LOST on you and the seeming immensity of it all is potentially weighing you down preventing you from taking any action at all.Mistakes are inevitable.

2. would it be a better option to get more people included so its less money out of my pocket?

Now I include the washer and dryer as being present there at the property however I have it in my lease that I do not maintain the washer/dryer.

They need to do a better job of setting an annual budget including contributions to reserves for major repairs and replacements.

TOTAL CLOSING COSTSD + ILender Credits -$357Calculating Cash to CloseTotal Closing Costs (J) $7,287Closing Costs Financed (Paid from your Loan Amount) $0Down Payment/Funds from Borrower $26,000Deposit -$3,000Funds for Borrower $0Seller Credits $0Adjustments and Other Credits -$1,655Estimated Cash to Close $28,632I know it includes some prepaids, but do any of these fees seem ridiculously high to anyone else?

Then my mortgage company had a list of things I had to submit, including inspections they performed, before sending back the money.I would think anyone with flood insurance would have to go through the same process of working with the mortgage holder to get access to the insurance funds.Now if the government steps in and offers money to affected homeowners, no telling what rules will or will not be in place around those funds.

@Mark SpritzWhile a Solo 401k may or may not be a better structure for you based on your situation, the additional benefits (beyond contribution limits and loans) include the following:-No custodial requirement-No need for LLC cost and admin to have checkbook control-Built in Roth-Spousal participation-UDFI exemptionsThe cost comparison depends on what providers you are looking at for each.

I don't know if it's contractual, but around here it seems to be standard practice to include the inspection report with any inspection-related contract changes.