I know that there are parts to a rehab or a flip that require a plumber or an electrician, and that will be something I'll have to hire out. 

He actually saw some properties in TN..I am in the stage of finding a reputable company to get my HELOC and get started...

Just because you own a pipe wrench doesn't mean you're a good plumber or that anyone should trust you with their home.

The best way to approach this is from purely a business and service standpoint; I'll say it again from a service standpoint - Owners will want to approach it as a 'partnership' whereas if they have issues, then you have issues and you share the responsibility of their dilapidated property or their ill performed decisions with them BUT at the same time some will want to nickel and dime you at every turn, in an industry that operates on nickels and dimes.... so my advice is for you to approach it from purely a service standpoint, no different than that from a landscaper, or plumber, etc.

Have a good team on the ground in the event of emergencies (HVAC, plumber, etc).

Reputation is everything and the brokerage community takes notice.

Please remember it is Christmas Day, and finding an emergency plumber was quite challenging.

Does anyone know a reputable inspector in Cleburne area? 

Seeking Expert Advice: Are there any reputable resources, organizations, or professionals specializing in creative financing and real estate transactions who could guide this matter?

The following actions will assist you in beginning your journey towards being a prosperous real estate investor:Set Specific GoalsEstablish a Reputable Credit History and Maintain an Emergency FundSelect an Investment StrategyMake Connections with Other InvesteesStart Little and Know Your MarketConstruct a Business PlanRemain Calm and Patient.Keep in mind that being a profitable real estate investor is a marathon, not a sprint.