If you are buying say a NNN STNL type property then funding and selection can be easier in the time frame left you have. 

Lastly, having a larger monthly cash flow, especially on your first property, will make it easier to build up a cushion in your rental account for unforseen large repairs or vacancy.I'l quickly touch on an angle I've used while acquiring rental properties, especially those in poor condition or those where the price is already reasonable for what it is.

Depending on your target market that are trying to acquire.

You're so right - it get's easier after that first one!

I tend to be conservative with my use of debt so it just worked out better for me.You had mentioned you wanted to start with flips... have you looked around in the Bay Area for possible areas to target based on your budget? 

It is liveable, and we have a friend who will be living in it to basically babysit it, so local criminals don't target it.

The chances of finding what you want without a clear target to move forward are pretty close to zero.

My preference is single family or multi-family homes in the northern NJ area, only because this is it will be easier to manage it all.  

I formatted this with multiple spaces so it was easier to read.

I think a lot of folks are understimating the value in the the low rates they are locked into, but if you do the math it makes the decision much easier.