This allows you the ability to see what works and what doesn't.I own a property management firm based just outside of Nashville, TN.

If the tenant does not have the ability to pay, he needs to move out and seek government help if needed or move to another affordable rental.

Don't take on too much risk as a newer investor, you don't know what you don't know just  yet.Having the ability to do skilled labor for free can be a massive advantage. 

Especially if I want to close on a deal, I feel I dont have the time or ability to walk through a whole plan and pricing with a construction consultant to give me accurate numbers simply from an mls posting how does a beginner like me know:if the contractor is doing a good job?

The ceiling to housing prices is affordability, which ought to be common sense, but somehow people don't think that one through, and conclude markets have the ability to increase perpetually.When the crash happened, sure prices pretty much dropped across the board.

It gives you the ability to pick the best of the applicants because more applicants may qualify.  

My service was worthwhile - I earned an honorable discharge, some medals and letters of commendation, and the ability to access VA health care, which has been most valuable the times in my life that I didn't have any health insurance - but it didn't do anything towards my RE investing career. 

If you are willing to put down 25% than you don't necessary need to live there....Most people who want to "house-hack" like this will use an FHA loan to acquire 2-4 units because of the low down payment and ability to use the rental income.  

Why would you take a property off the market for 30-45 days if the buyer had no ability to buy it?

A good mentor is local, has lots of skin in the game, has a formal teaching background, and is genuinely interested in helping you.But all the mentoring in the world isn't going to instill in you the ability to keep going when the way is not clear, to keep developing and working on what you know, to help you turn you into an independent, autonomous learner, and that is a crucial part of this business.Most people want a sure-fire path to certain riches with as little uncertainty about it as possible.