Advice for first timer

[Eric NA]

Here are some of the quick facts about myself to help out:
-I'm 25 years old
-I'm an accountant at an oil & gas company
-Make 60K year (decent for Tulsa, OK)
-No kids, not married, 1K in debt at 0% through 2009
-Car payment of $350 per month (no other outstanding debt, no school loans etc)
-Rent from a friend in an extremly nice home at $425 a month + half bills (this is a steal)

-I just finished my business plan for real estate investing
-Created a company website at www.fcfinvestmentgroup.com (still under construction)
-I have financing up to 125K @ 3.0% on a line of credit from my investor (my dad)
-My dad works at a real estate company specializing in commercial and multi-family home residential real estate so he will be extremly valuable in helping me (although residential homes will be somewhat different)

So here are my concerns/thoughts. I feel like I am in a pretty good life situation to get started investing. Not married, no kids, lots of free time, available cash flow, financing secured. I have already secured a few local contacts who I believe will be very helpful in getting me started. I have the drive and the motivation to see this through to the end but I want to make sure I do not miss anything. I am reading books non-stop about flipping, buying homes, renting properties, being a landlord, personal finance, etc.

One of my main concerns comes from the fact that I am NOT Mr. fix it in any way shape or form. It's not that I don't mind getting my hands dirty and doing the work. General clean up & stuff like that doens't bother me, but when it comes to actually fixing something, installing new floors, you name it I have basically 0 experience at any of it. This worries me because if I end up having a rental property and something goes wrong, I will almost always need to call someone in to repair it ($$).

How much of a disadvantage is this going to be for me?

Right now I'm 50/50 on buying a home, fixing it up and selling it quickly, or buying/fixing/renting. My dad would prefer the buy/fix/rent strategy, but of course I'm younger and I want all the thrills of making some cash so that I can start to build up some equity I can use to make more money down the road. Given the current environment in Tulsa, (huge drop in buyers, plenty of sellers, home values remaining pretty constant (not going up or down)) I think the buy/fix/rent strategy may be a better option.

I have considered selling with lease options (and read a post on this forum about it) but would that be recommended for someone doing their first home?

Also, I am willing to put in the work to be a landlord and I have looked into all that goes into and it looks like a lot of work but I'm not against it. Any tips for the first time person renting a home out?

The more I read the more I realize that to be successful, you need to be creating something of value. I truly do want to help people and create win-win situations where I can help a homeowner who needs out of a property, help another person who needs into a property, and make some cash in the process.

Any other general tips would obviously be appreciated as well. Thank you very much for your time and information.