The single biggest issue in my way currently is obtaining enough cash, whether it be my own, or through partnerships or family/friend-based lending (which I am very hesitant about to begin with as this could potentially strain relationships unnecessarily when money is involved).

And most regret it.I'll make the opposite case: it is VERY hard to screw up when buying i.e. a duplex in good condition in a desirable neighborhood and either self-manages or hire a quality PM to manage.To any new investor who is reading this: In real estate cost and risk have an inverse relationship.

For rentals, consider holding properties in an LLC for liability protection.This post does not create a CPA-Client relationship.

You need to connect with people, form trust relationships, learn from others in your area and you'll be surprised how opportunities open up. 

Visit FinCEN’s website for filing details.This post does not create a CPA-Client relationship.

Startup costs related to the LLC or marketing may be partially deductible in the first year, with the remainder amortized over 15 years.This post does not create a CPA-Client relationship.

For deal flow, you can either work with a realtor or build relationships with wholesalers.

If you can get good at networking and building relationships by establishing rapport, you'll get ahead much quicker in this niche.

Everything else; relationships, making connection, closing deals, and ultimately making money, is the result of concerted efforts.

*This post does not create a CPA-client relationship.