Not sure how this would play out, and my brother and I will find out soon, as he is doing a 203k on a fourplex in DC and converting to condos.

Ideally, he would put up the money for the purchase and rehab costs, I’d run the project and then pay him back plus profit after selling it.

If I can find one with good cashflow, that would be ideal.

What I would find ideal is to partner with a contractor, use some of my funds and some of their funds (or their investor funds) to finance the build.

Learning from those with experience would be so ideal.

One possible play depending on location and home condition, and I know its sacrilegious to suggest in this forum, is to sell the homes off and see what you can get for the land. 

I agree with that when expanding your portfolio, but at some point, there is no need to be leverage to the top and it getting rid of all debt is a better play, IMHO.

What type of property would be best:I'd say start small only because you are still young, so perhaps intern with a really awesome wholesaler in your area or find one that is exceptional somewhere in the country and be their virtual assistant (scrubbing their lists or doing online marketing for them] What banks would be best to get a loan from should I need one:I won't worry about the banks just yet, focus on building your foundations and in the process, you'll get a good lender while on the journey to successBusiness and real estate books/ebooks I should read:MUST buy a hard copy of Rich Dad Poor Dad & buy the CashFlow board game [find a friend of yours who likes a challenge and play the CashFlow game with them-they might be a potential partner in your business in the nearest future] Pitfalls/rookie mistakes beginners make:Make a ton of mistakes!

We're a young family looking to buy a multi-unit (2-4) units anywhere in the triangle that is safe and ideally in a well defined neighborhood. 

Then ideally, you have already profited $30,000 because you stayed under the ARV.STEP 2.