Just need a little guidance

[Cynethia Scott]

Hello BP family! I am new to the forum and have been reading feverishly day in and day out. All of the posts, blogs etc on this site. Needless to say I feel overwhelmed and not sure where to begin now :).

Here is my background. I have been a real estate agent since 2004 and had plans to become a broker and start my own Property Management company. After having sat for the exam once before and not passing, I got discouraged and never tried again. The market slowed for me for a while so I place my RE license on inactive. Now, I've re-visited the plan again and i'm more motivated to get started and go through with it. Since my license was inactive for about 2 and a half years I'll have to wait 3 years or so before I can take the brokers exam again..

My plan is to learn all I can because two or three years will come sooner than I think. In the meantime I want to invest in my first SF or multifamily rental property to buy-and-hold. I have been pre-approved for a loan and I have people that want to become a partner in the deals Not to bore you too much, so here are my questions.

What are a few things that I can do while I wait until it's time to take my brokers exam again? I've been reading the blogs here already, any good books on landloard? classes? should I start a business plan?

Do you think it's a good idea to have a partner invest in a deal with you? It seems that the profits will be greatly reduced

Is it really good money in Property Management or with all of the hassle?

Should I start thinking about my company structure? I've read how others handle their businesses but is this too early?
As you can see I have alot to think about and do but I need a handle on things because i'm very excited and motivated.

Thanks so much for your input :-)