Multiple Investors Starting from Scratch

[Patrick Medeo]

There are 3 investors involved and we have a solid starting fund. Collectively, we have limited to no experience in real estate investing. Our goal is to begin investing in income producing properties and build a portfolio, without doing all of the day-to-day management (potentially partnering with a property management co). We are in Philadelphia.

What is the first step in getting started; 

1) Valuing/finding properties? 

2) How should we incorporate?