Read Beginner’s Guide to help you get started: http://www.biggerpockets.com/real-estate-investingI hope BP helps you achieve your goals!

Any experience or guide on transitioning to bank loans?

Here's a good rundown of how to do it: https://www.biggerpockets.com/blog/guide-starting-llc

So work with someone who can guide you through the maze of neighborhoods, numbers, types of properties, trends . . . :-)

And yes a trip to the market and or other prudent up front due diligence would have saved most all of these folks.. but they simply did not do that.. 

Roofies are also expensive when their "collective" or "syndicate" goes off to Vegas for a "business trip". 

Loans from FHA, the usual bank loans, building connections, and finding a guide can aid.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

This information will help guide the negotiation process and ensure that both parties are on the same page.

This Intermediary (QI) is your guide through the process.