Definitely take into consideration the age of the property.

Sounds like a perfect plan given their age and their goals.

Wilbur Ross39th United States Secretary of CommerceIncumbentAssumed office February 28, 2017PresidentDonald TrumpDeputyKaren Dunn KelleyPreceded byPenny PritzkerPersonal detailsBornWilbur Louis Ross Jr.November 28, 1937(age 81)Weehawken, New Jersey, U.S.Political partyRepublican (2016–present)Other politicalaffiliationsDemocratic (before 2016)Spouse(s)Judith Nodine(m. 1961; div. 1995)Betsy McCaughey(m. 1995; div. 2000)Hilary Geary(m. 2004)Children2EducationYale University (BA)Harvard University(MBA)Net worthUS$600 million (2019)[1]Before he was appointed, Ross was a banker known for acquiring and restructuring failed companies in industries such as steel, coal, telecommunications, and textiles, later selling them for a profit after operations improved, a record that earned him the moniker "King of Bankruptcy".Learn from him. 

Between anti-trust law suits and iBuyers the industry is quite disrupted.

You can also check out some local Meetup groups in your area to see what everyone else tour age is doing.

.- Personal Articles: Coverage for belongings that have a special or collectors valuesuch as Jewelery, Furs, Fine Arts, Collectibles, etc...Your age should not be a factor on the pricing but, depending on the company these other factors may get you credits:- Insurance Score (company pulls certain info out of your credit report)It is not your credit score but generally better credit will result in a better score- Time at your job- Education level- time at current residence Good Luck

So I’m wondering how does one get started investing in real estate at such a young age to where he/she doesn’t have a job like myself?

At your age, it is an easier way to get rolling.Rental arbitrage has a lot of risks and when you are just starting out can devastate you if things go wrong.

I thought it was a mistake because Condos in the area in similar condition and age were $50-100kI did a nice Reno on it and had about $20k into it and listed it for $75k hoping for a home run.

:Nice post.But this is why I’ve never flipped.You made $2750 over 9 months.That’s $306/month active income.And the asset is now sold.Forever.Given all that stress and sweat, that’s abysmal return.After taxes,it’s even less.But lesson learnt.I just finished flipping my first home at the age of 32 years old & my company stands to make a $90,000 profit (already under contract)...