brand new and ready to go

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I've done a lot of reading, researched on the web as many places and as many topics as I can think to look up, really want to get started and see if I sink or swim (really hoping to swim!). I've got some money stashed away, but am really a miser at heart and would rather not part with too much. That being said, I'm very interested in creative financing. My credit is fair, nothing outstanding, but I have a good history of paying my debts so I think I stand a good chance of finding financing if I know where to look. I was thinking of REO/forclosure properties as a possible place to find a good deal, any opinions? Are they really better deals or just a different variety that come with their own technicalities? Would like to hold long term investments, but not averse to flipping. Again, pros/cons, anyone? And lastly (for now) I read someone else's post that referred to a company that was started for the purpose of investing, and I think I understand how he got the idea, I've come across that myself in my reading. The thought is, avoid having my name on the paperwork and some of the reprecussions that come with it by forming a company and investing in the company's name. I don't see how this is really necessary from the start if I plan on starting small, a single family rental here and there, but it does make sense if I decide to really expand and make this a full time gig (which I'm hoping for). So my question is, can anyone tell me how the creating a business thing pans out, am I right in my assumptions, and if I start out on my own is there a way to avoid possible tangles from having my name posted for the world to see? I'm assuming things can be transferred into a business name at a later date if that winds up happening. Wow, I'm really long winded, huh? So I hope I don't sound too general, but I haven't fine tuned what I want to do yet, I've always been one who likes variety. Thanks for your time and input!

B