Starting with single-family homes and growing a portfolio one step at a time seems like a practical approach.

Has anybody ever purchased foreclosure land from the courthouse to build on?If so, how have y’all figured out level 3 soils tests before purchasing the land at auction?I can do all the due diligence beforehand, except...

Any advice from a well-versed individual on what step to take first?

You're taking a great first step by joining this group and seeking guidance.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children. 

Every next step of the process gets executed days or weeks after it's supposed to. 

First step for you is to study investing in income properties.Generally a rental property will have in the range of 4% -50% of rental income going toward expenses to maintain the investment before debt repayment (mortgage). 

Hope your next steps are much more smooth and you can take those lessons and turn them in to gold. 

Hi @Samuel Garnatz, welcome to the forums and congratulations on taking your first step.

I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.