That looks different for every person but ultimately it comes down to taking the first step into the unknown (which is a little unnerving) but once you do it starts to feel more comfortable with time.  

I don't know really know how to make the first step and would like advice from someone who has the on hand experience.

My first step that I want to take is by getting a job in the real estate field to help learn the business.

Because of this, my sister took charge and got a PM to step in.

Initial Escrow Payment at ClosingHomeowner's Insurance $30.00 per month for 3 mo. $90Mortgage Insurance per month for mo.Property Taxes $160.14 per month for 5 mo. $801H.

Then my mortgage company had a list of things I had to submit, including inspections they performed, before sending back the money.I would think anyone with flood insurance would have to go through the same process of working with the mortgage holder to get access to the insurance funds.Now if the government steps in and offers money to affected homeowners, no telling what rules will or will not be in place around those funds.

If you find a property with potential but is vacant, what's the next step?

We've stepped up rent gradually in those cases.  

Next step is to open up the account to hold the funds.So my next question is Brokerage account or Bank Account?

My last piece of general advice would be to take each step of the process of purchasing a property and break it down into sections.