The biggest mistake I see out of state investors make is relying on others too much for direction and guidance instead of doing their own due diligence and building their own team that they actually meet and interviewRelying on one person who alleges that they have a 'team' built already that you can use as well can be a costly mistake.

Because you're new, it is a good idea to ask about the brokerage's agent training offerings and potential teams to join to get experience. 

Building a trusted team is key, so starting that process as you actively search for your market will put you in a strong position moving forward.

I am the Vice President of OmniKey Realty, and I would highly recommend scheduling a tour with my investment team if you haven't already done so.

None of my agents on my team are members.

@Brandon Croucier is giving you solid info on finding an experienced and honest mortgage broker who can shop your exact scenario both ways, with the rehab and without and break down the benefits of each with all fees so you can see an apples to apples comparison. 

They all say they will be on the lookout for me, and they are experienced realtors.I did however get one from here, bigger pockets, and this realtor hasn't worked with investors before, butis asking me to sign a contract so I am working with them exclusively.The reason I am asking what to do, is because this realtor with the contract is very new, but I heard that most realtors will ask you to sign one if theyre serious.

Skills or qualities in no particular order: Communication, patience, empathy, listening ear, backbone, resilience, determination, organization, work ethic, lead a team, thick skin, time management, trusts their instinct, and all-around good ethics! 

On buy-and holds we usually replace all the plumbing with pex, no matter what, because galvanized has a life expectation of about 60 years, so I usually take the sooner than later approach.Stick with hard money, like Mach1 or or MKE hard money (Scott Lurie) as they will not leand on a deal that does not pencil out, so you have the added benefit of someone experienced looking over your numbers.

Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.