The only thing is my regular job as a nurse I don't make enough to cover the cost of our primary residence mortgage and the second home mortage on paper.

That is a big sticking point with me is the non-compete, but I also will be working a full time job and most of the projects I will be overseeing.We had first discussed a line of credit and I pay pack interest on what I take, for ex. if I bought a house for 70k and needed 30 k reno, I would borrow the 100k, then pay back 10% on that plus 15% of the profit. 

My ultimate goal is to invest in apartment complexes and be able to separate myself from my day-job by the time I am 30 (I am 23 right now). 

Brand new on the site and first post.My young adult son is on the autism spectrum, and with those challenges, is having some difficulties getting higher paying jobs/positions. 

If you are busy with a different job, totally understand I would just establish the LLC and move on.

If they're on disability and don't have a job or a large volunteer commitment and they're not obviously physically disabled, get a full confidentiality release of their mental health history so you can determine if you can cope with having them as a tenant. 

Run your contracts through a local lawyer (I can refer you to mine if you message me directly) and do a better job of letting the seller know what you plan to do with the property.

Do I still need a normal w-2 job  or can I live and grow exponentially from $200k? 

In terms of living on the income my real estate generates (I have a job but not a very secure or reliable income job), would I be better off staying with the properties paid off or looking for similar good deals and mortgaging them ?

Debating getting my real estate license while working a full time job.