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First thing is education. Learn for free on the internet, buy some books on Real Estate Investing, talk to investors. Then take action. This is the magic formula. :lol:
111
Good Luck!

IMO you are not ready yet to get into Fixers requiring that much of work.
Better look for cosmetic fixers. Properties that are in good shape, but need painting, new carpet, door nobs etc. - nothing major.
111
sam12

One way you can get all that info is from an agent or a broker. But then you have to give them business in return.
111
(I got a RE license myself and got UN and Password through my broker, but they paid themls for the access.)

Your question will be hard to answer because the course of action depends on:

1. Your market
2. How much time and efforts you are ready to put in (your dedication).
3. Ability to buy the "right" properties.
4. Ability to deal with tenants
Plus many more factors which you can learn from studying. There is no magic formula that can fit any and all investors.

My advice is start with one or two (houses, condos or 1-4 units building) see how it goes, how you like it.
Then gradually buy more as much as you can handle.
Buy within a range of 20miles so you can keep a close eye.
And learn, learn as much as you can.
It won't come over night, but eventually you'll succeed after Years of work.

Good Luck!

1. Get the COMPS for the area.
2. Check location.
3. Check Condition.
4. Check how's the Real Estate Market - escrow companies will give a good idea if the market is slow, good, or hot.
5. In a slow market be extra careful with your investment
sam12
Good luck

Try to find subleasing.
There are people who want to rent for a limited time.
Check out craigslist.org rental section.
sam12
Good luck

Where do you think the market will grow with the highest %?
Where the market is undervalued?
(Southern California used to grow about 20% a year. Now the boom seems to be over.)
sam12,
Thanks

Here the rents are going up.
Los Angeles CA
sam12