The properties will probably need expensive rehabs like the $10k you just spent, probably more.

Now that I am confident in my bookkeeping skills, to better market myself, I spent a good deal of time thinking of different niches to specialize in. 

We did this with our first 3 Short Term Rentals and it saved me a ton of time & money.We stick with neutral tones, order bed-in-a-box mattresses, and always keep double sets of linens to make turnover smooth across both MTR and STR bookings.

Also sounds like you’re considering a lot of different strategies, each of which have vastly different capital and time commitment requirements.My recommendation would be to sit down and establish a “buy box.”

The investment into the mastermind was not cheap, but ended up being the best money I've ever spent.

It's money well spent.

We've struggled with Quickbooks for the last several years (and before that I literally had a shoe box with receipts in it).

If you don't want to take off you shoes keep a box of new shoe covers in your vehicle.

So you'll add 150k in rent over those five years)So we can take our numbers above and add 150k collected in rent minus the expense.So all cash,Bought 500k, collected 150k in rent, profit = 214k or about 8.5%On credit (3.5%) down Bought 500k (20k down), collected 150k in rent, spent 168k in interest, so profit is 46k or about 46%. 

Yes I remember reading about the cardboard box that Warren Buffett reads in underneath the freeway overpass.I'm sure he lives in a pretty nice house himself - and not a cardboard box under any overpass.