Study after study PROVES that the best place to add a dollar to our economy is UNDOUBTEDLY in the middle to lower class households if the desired affect is to bolster our overall national fiscal health.

Hi @Ashli Addison, welcome to BP and the REI world, yes i agree there can definitely be an information overload with educating yourself in REI, but its good that you are now jumping to take the next step and get some forward motion on your business, while you will never stop learning taking the first steps and making real progress is a big accomplishment and one step most new people never take "study from the sidelines" but best of luck with your REI adventures and post up any deals/success/questions you get, we all like to see each other succeed,good luck,jay,

Hello to all,For the past year I've been studying REI books, listening to BP podcasts, lurking on the BP website and so much more.

The information you need should be available on line, All state/city landlord tenant regulations and codes should be readily available with a simple search.You need to know all the codes governing your business so you may as well start studying now.

Also, study the Fair Credit Reporting Act(FCRA) and Credit Repair Organizations Act(CROA).

I don't mean to go against the grain of those who are selling that idea - all I can say is that it did not work for me.So.......... back to taking seminars, buying cassette tapes and books - I wanted to learn everything I could about investing in real estate ---- so--I had to get money, working capital, and I needed to go on the cheap - A friend told me about cheap properties you could buy in Baltimore - houses for only $2-3,000 and many of them could be found at public auctions.After borrowing some money and getting some credit cards and a new job - one in sales - I was ready - ready to invest in cheap- junk properties in the City.And wouldn't you know it - I got lucky at my first auction and purchased a cheap house that was boarded up - Because of all those expensive seminars I enrolled in I WAS READY - prepared with my pry-bar, flash light, level, marble and probe - I decided to go to this building that was being auctioned the next day - I sort of removed some plywood and crawled through a window to take a look -Boy was I surprised - this place looked great - I later found out that the estate boarded it to keep squatters out.The next day - I was ready with my deposit and waiting for the auctioneer to start his melodious hypnotic chant - 5 bidders appeared but did not bid because they could not get it - I was the only bidder and got the house real cheap.Today as an auctioneer, investor and developer of commercial properties - if someone would ask my opinion on how to get started I would suggest ---Continue to study but learn how to cut through the BSGet a credit line Learn 20 creative financing techniques - no money down systems (that is none of your own money)Hang with a few successful investors and pick - pick - pick their brain*** Look at 50 houses in the area you intend to invest (not expensive, blue collar, mixed rental and home owner neighborhoods)When you are finished looking at 50 properties - you will be armed with knowledge that most agents and other investors don't have - knowledge of values -Keep a journal, put listings in it, write down everything the agent or owner says, keep a record of the cost per square foot - this will help determine values -Have agents send you expired listings - go knock on the door or send a letter to ask if they are still accepting offers on the property - Remember an expired listed is a property that failed to sell - the seller should still be motivated to sell. 

How long would you make your study period (what is typical for residential zoning) and what specific questions would you be seeking to answer?  

If you are interested in rentals take the time now, while learning how to invest, to access and study your state landlord tenant regulations.

Hi Jimmy - I am an also a newer investor from california that has been studying the Indianapolis market. 

Normally on bigger buildings we do LOI for all that, but you can just drop a study period into the contract.Things are at scale, units turnover much quicker than SFH.