But for true real estate investing I am just starting out.My ultimate goal is long term wealth, and to achieve that I want to BRRR as many properties as I can (but wisely).

You should be able to achieve your goal but keep pushing forward.

We have 2 little ones at home which makes for a much more conservative plan for us but it is a goal we will achieve.

These metrics are much easier to achieve on syndicated projects.  

Can anyone weigh in on how this could be achieved in Cook County Illinois per Richard's suggestion?

Do you have a private money lender who will loan at rates that will allow you to achieve your profit goals and for long enough to allow you time to refinance if necessary?

Good luck on achieving your REI goals!

I want to achieve financial freedom before 30 (I am 26 as I write this)--that is my goal! 

That makes a difference in what you can expect to achieve for your efforts.

My gut tells me Lynnwood will only become more desirable as the population and employment boom continue in this area and your possible appreciation over the next few years will outshine investments in $125k houses that are made to achieve the 1% rule.If you do decide to proceed, may I suggest a 1031 exchange?