Just ensure you or your property manager are complying with building standards and have a liability policy of at least $300k and you're in pretty good shape liability wise.

I am proud to say that I got my work ethic from my mom, she raised three very hard-headed boys on her own and did so working multiple jobs to ensure we had a roof over our heads and food on the table.

That will ensure the highest probability of continuation, which will lead to success. 

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCreating an LLC in California would cost you a minimum tax of $800 every year.

Now, the presumption here is that you've read REI books and listened to a ton of podcasts to ensure your success in this game. 

I'll then use a traditional mortgage while putting 20% down, ensuring I have enough leftover to do any repairs.

If you do decide to start in the DMV, ensure you have a realtor that is familiar with investing and familiar with the area.

She also asks for documents before an official pre-approval letter is provided to ensure you are really qualified. 

You may end up keeping the house to ensure that your credit doesnt get ruined.

They ensure me that monthly repair is less than $200.