Knowledge is power, so why not put myself in a position to leverage strictly based off comprehension in the field.  

Any criminal activity that threatens the health, safety or right of peaceful enjoyment of the premises by other tenants committed by a tenant or by any member of the tenant’s household or any guest or other person under the tenant’s control or is a danger to the premises and any drug-related criminal activity on or near the premises by the tenant or by any member of the tenant’s household or any guest or other person under the tenant’s control shall be grounds for immediate termination of the lease.First landlord nightmare experience is in the books.

I also like Out of State owners (which you can find  at the courthouse), contacting households that have had recent divorces, and pretty much anything that implies either motivated sellers and/or people you can negotiate with.

I don't know your family situation or how many people are in your immediate household, but you could potentially get a small multi unit as John has suggested and add to your income. 

@Chris Mason yeah thats essentially what i thought, was just wondering if there were other opinions out there. also, this is the first time i'll be doing a deal by myself and going all cash makes me a bit nervous, ie what if i can't get a loan after the fact for whatever reason, that money i had in equities earning 8-12% per year is now tied up earning like 5-6% in rent :( @Brit Zamoyta thanks for the comprehensive list...i'm definitely going to be starting off in residential (Quads, etc). its good to know you can only get 70% of purchase price if you refinance immediately after closing. i guess the other option is to just wait 9 months and then get a 75% loan on appraised value (hopefully after increasing the value somewhat). 

You may also consider the option of getting certified as a property manager through one of several institutes that offer a comprehensive program in property management.

I purchased a comprehensive spreadsheet package that takes an investor from property analysis through purchase, rehab and sale, to deal reconciliation as a way to analyze the success of the project.

About three months later, thousands over budget, nothing done right, and a divorce brewing in the household, I come in to the job to fix what is now over 25k and a nightmare.

You can just serve a “competent member of the household” (like the parent). 

I am participating in the MPLS 2040 comprehensive plan  by attending meetings and provided feedback that can be a big win for both landlord owners and renters in Minneapolis.