First time buying investment property, What do I do first???

[Rachel Payton]

I just sold my first rental (which was originally my residence, but kept it when I bought a second) and I'm looking to invest in a multi-family property. Ideally I'd like to have the property owned by an LLC. I plan to either buy the property than transfer to the LLC, or buy the property as the LLC. I haven't decided which would be the better option, or if it even matters. I'm thinking anything from 3-12 units, as long as the numbers work. I have a real estate agent in both Oregon and Iowa keeping an eye out for properties, but I've also been told that I should see a lawyer and an accountant. I'm just confused about what my first step actually should be. When should I be talking to these people??