We suggest that a licensed contractor further evaluate, address and repair/reinforce both porches as needed for safety purposes, including addressing the back left exterior steps that are not installed correctly. 3.

@Matthew MarcelissenCongratulations on taking the first step and jumping in on your first flip - The first step is always the hardest - good luck with the project.jeff

A great introduction that provides actionable steps to get started is Michael Blank’s book “Financial Freedom with Real Estate Investing.”

Its not easy  so step one is getting the know the area like the back of your hand and become a black belt at the basics which I outlined above. 

Is there anything steps I can take in the mean time?

I have been in the insurance business (claims department) for the past 16 years and have always been interested in real estate but never had the nerve to pursue it further...I am confident today is the 1st step towards my pursuit of being a full time investor one day.  

And you just discovered one reason some people use the auction method to sell property.

This would also be the preferred method if they paid less than $200k for the property as all those gains are tax free now but will be taxable after 2 years as a rental. 

I have the biggest respect for anybody that can help me to get a step closer to my goal, any suggestion or idea will be very welcome. 

As a newer investor, you can take the proceeds of your NOI to reinvest, and continue to grow your operations.But.....If this was the only method there would be no successful RE investors in Los Angeles, San Francisco and New York; which obviously isn't true.