Must I have the following things in place before I start:  Assignment contract for my area Brooklyn, New York with assign to included, earnest money $500-$1000, Real Estate Attorney or should I use a pre-paid attorney, title company/insurance, motivated seller(verified ownership), buyer (pre-qual or proof of funds).

@Eric S.As an intermediary we usually request that prepaid and prorated  rents, and security deposits be handled outside of closing.  

@Alex Chin thanks Alex The FHA closing are three parts for 210k it's about 3200 closing and probably 1300-3000 in impounds/prepaids/tax/ins/interest etc 

We have no idea how much of that is prepaid property taxes, insurance, etc.

Go to a real estate attorney, not a PrePaid Legal or a title/escrow company to get advice and have any paperwork done. 

First he went and got a prepaid credit card.

Pick an area you want to own 4 properties in and start dropping off postcards that say "I buy houses" then put signs on the poles at intersections that say the same.then get prepaid to act, how fast can you close.  

Lets run that through my best lender- They'll loan you 90% of the purchase less the origination of 2.5%, which is $64,750 plus they'll escrow the repairs of $20k.You'll need about $1k in closing costs, plus prepaid insurance and interest to the end of the month, so lets just use $2k for round numbers.SO, you'll need $7,250 to close.Then you'll need to be able to run the job up until the first draw. 

Banks - Ally is safest @ gives 1%, cds/ local credit unions around 2%, lmcu(lake michigan cu) - 3% till 15k I think, some prepaid cards give 5% with some work(check doctorofcredit blog)..

Pre-paid rent refunded on pro-rata if owner breaks the lease.- Owner agrees to allow sub-letting.