(Use a servicer for complying with Dodd Frank).After you have it performing for 90 days then think of selling it.As has been pointed out you do not want to get into pooling of funds as that is a whole different animal.You have to do several yourself so you have experience and a track record.Due diligence is very important in this business.

Am I on track with the above plan?

If not you may have a hard time finding money without a bit of a track record or quite a bit of skin in the game.

I went off track and didn't read this one completely through and through. 

You are on the right track with your future and good luck in your investing.

Have you checked out Fast Track? 

For instance, Dual Tracking, forbidden via Dobb Frank is forbidden for all loans regardless of Occupancy.  

I am self employed (making good income) but graduated from college last year and don't have enough track record for "typical bank loan."

I pay for it with my Home Depot card so I can track my different projects.

Now the next time I see her, I will know her name (if I don't track it, I will certainly forget.)