So there's acquisition, rehab/repair, carry, insurance (vacant/contractor insurance, yes there's two types), and any other expenses (closing, etc).

I would recommend that anyone who’s doing a type of transaction for the first time hire an attorney to represent THEM, aside from the closing attorney or title co.  

Quote from @Godsheritage Adeoye: Quote from @Robin Simon: Welcome to BP, what type of strategy is the first deal - turnkey or some value add? 

Even if the units you tour aren't the one you eventually buy, walking around the area and getting a feel for the property types will help you be a much more informed consumer when you are ready to pull the trigger. 

Most midwest markets offer this type of inventory.I am also beginning to talk to CPAs and attorneys, but I am not sure what questions I should have cleared at a minimum to confidently take the big step. - First, I recommend speaking with a lender to find out if you can purchase the property in the name of an LLC.

Are there any mentor/coach/investor types who know the Collin County, Texas area on this forum to speak with? 

What made you interested in investing in this type of deal?

What types of software would you recommend for flipping properties and overall project management (executing the project)?

Some are more cumbersome than others with project schedules but that comes down to project types and size of firm.

Propstream does not have those types of city specific lists.