A "pre-approval" sounds like a "consumer" mortgage rather than a commercial loan for investment real estate, is that correct?

This book is full of resources and education and if you order before 12/1 you get the best value because it includes ✅ Access to a live Q&A with James and gets his “The Flipping Workbook”✅ Sample Statement of Work✅Buy Box Worksheet✅James's Flipping Calculator✅Core Team Members Worksheet✅Tool Kit✅Glossary of Terms✅One person wins a giveaway: Free Pro Membership, All of Project RE content, Education, and Weekly calls with James & his communityOrder it paperback, hardback, audio, or ebook.

So there are so many software tools that it would be best you do a quick search.

What do you guys suggest as must have, or most used tools?

You are probably correct.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Look into property values, vacancy rates, and the overall rental market in the area.Real estate can be a powerful way to build wealth, but it’s essential to start with the right tools and knowledge.

The current property would be viewed as being owned by me outright with no mortgage since there would be no lien holder on the title, correct?

You may want to think about working with a realtor or a really good attorney to make sure you are set up correctly to start off in the best possible situation. 

It can be a wonderful tool.