Are they family or friends in each unit?

General RE: know all of the terms, how real estate cycles work, financials (this is a MUST), what your end user wants [whether that's a homeowner, a tenant, a rehabber, etc.], Local RE: You need to know your local real estate market and you can learn that by reading the local newspapers (both general and business) and one of the best ways to learn what I found to learn what's going on locally is by following newspapers, journalists and towns on Twitter, also head to your local town hall and speak to the P&Z dept., EcoDev and other dept's to see what's going on in the town's you want to invest. 

Or you could just have a will drawn up for a couple hundred bucks ;)My lawyer friends always say "you can pay me now or pay me later".

Here in the same county, a friend of mine had an large, older ranch home, built in the 50's, on a gorgeous piece of riverfront property (in a very desirable, upscale, neighborhood), that still had the original electrical meter , and the power cable /electrical feed coming into the house right next to the front door!!!

A friend was buying a rental house from a long term investor.

If I could add to what John Leavelle said  ; it could cost as much as $60,000 to do a full Rehab here in the Philadelphia Area        My Friend Sean just did a Rehab in the Port Richmond Area Close to Fishtown and he it was $60,000        Sean has done many flips and I thought he went as "Budget" as you possibly can , for an example ; he paid $7,000 for a brand new HVAC  (Heat & Air Conditioning)  with new duct work , where that would have been double in the open retail market       Good luck with the project & feel free to reach out to me if you need any help or have questions SincerelyRick      

Bring a friend to sit with you so you're not alone, just to be safe.

There are a lot of things that go into a real estate contract that could tear best friends apart.

Both are landlord friendly states.

Hi BP Family!I'm new to real estate investing and actively taking action in the Fairfield County, CT market. I'm having trouble finding an attorney who is comfortable with assignments and wholesaling in general. Are t...