I'd recommend renting one until you optimize the cash flow then purchase one assuming the numbers work.

You need to create systems and processes that YOU use to run your business, you need to optimize you business, and you need to have a mid- to long-term plan.Once you have these things in place, then you can start bringing in other people to follow your systems and processes and to carry out the strategy that you've defined.I read in another thread that you plan to do 50 deals in 2010...if that's the case, there are more important things that you should be focusing on other than getting your RE license.

So, if you have assets to protect (and you will if you're buying real estate) and if you want to optimize your tax benefits, then you'll want to set up a legal business entity.As for what type of business entity, consult an attorney and a CPA...they can tell you what will work best for you.

OP should do a NPV calculation and determine optimal holding period.

Has your broker performed a "void analysis" to see who the optimal tenant to go in would be??

It'd be really cool if each episode of your new podcast focused on 1 topic but had various experienced/advanced RE investors describe/lay out their best/optimized/efficient "systems" for that topic. 

Your first step should be to optimize your budget and spending.

In saying you are a pro at photography (videography makes you even more marketable), you have to put that out in an optimal manner.  

As far as changing professions goes, I knew it wasn't optimal when I did it, but I wasn't able to commit sufficient time to complete the house I was working on otherwise.

@luis alfaro you ill have pay with almost all websites the one I use is webstarts.com you can use the free version but will eventually have available  to buy in especially once you get in to seo optimization