I work with several real estate developers across the country and they all do it differently.My suggestion is to find a property type and an area/neighborhood/city/market that you are drawn to and plot your course from there.As for the amount of money you'll need, it's gonna be mostly driven off the purchase price of the property.

What's the purchase price? 

Purchase price: $360,000 We bought this stacked duplex, lived in one unit for 2 years and moved on.

I am currently helping a VA buyer purchase a home with an assumable VA loan in Skye Canyon.

I'm 53, married with 2 kids less than 17 years old with debt only from purchases on credit cards and my home.

You can also do up to 85% LTV on a purchase. 

Self-proclaimed Section 8 guru's online claim to do the latter and then find Property Managers after they purchase the property in whatever state, but I don't know how real that is. 

Invest in a Rental PropertyUse your equity: You could leverage the equity in your current home to purchase a rental property.

Are you planning on using that cash you pull out for the full purchase or are you considering that a downpayment? 

. - Have seen many investors create their own LLC and use their name & address:(- Only works if you put a property in LLC when you purchase.