California Fair Plan, ran by the state, has crappy fire only insurance and you will need a wrap around general and liability insurance with them. 

I never could understand the I only buy for cash flow and could care less about appreciation comments.

It's great to see your detailed plan for investing.

It's also important to plan the timeline for each renovation aspect to understand how it impacts rental rates, cash flow, and property worth.

I'm planning to getting my feet wet with an actual investment, specifically in the LTR space in Philly -- where I'm currently based. 

I plan to work on this project myself and need some assistance in selecting the right type of flooring and approach for the bathroom.

So be careful there if you are talking about any major renovations!  

How do I put together a business plan for this?

Lenders only care that they get paid back.

Can't wait to see you grow.If you're planning to invest out-of-state, I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.