Time to build the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

@John Montgomery Congrats on getting close to negotiating your first deal...I would say the most important thing is to "know your objective"...There are a lot of great answers on this thread, but ultimately we are all making "shots in the dark" as to the best option for you because it's our perspective...This is still valuable, but can become very confusing because you don't know each person's perspective...MY Suggestion is to know your goal over the next 3-5 years...I will let you know a little about my perspective...I am a Rehabber and Have Been Buying and Rehabbing over the past 8 years here in Chicago...I've been in your shoes...I wanted to be the Big Shot and rehab deals straight out the gate(Little to No Money & No Experience but a few REI Boot Camps- basically No Experience)...To say I've had a lot of Failures during my 14 years of being involved in studying REI is an Understatement...If I was starting all over again, and my objective is to be able to build a robust REI Biz that can allow me to rehab 6-12 homes a year, wholesale 2-3 properties per month, and build a rental portfolio...I would first focus on getting good at one objective first...Generally most people start out wholesaling because it doesn't require the money or experience rehabbing or landlording requires...I would start with Wholesaling...go find 5-10 very good rehabbers and find out their Criteria for a Great Deal...Commit to building Value for them and ultimately a great relationship.With this you will already have buyers lined up, you know what areas to look for properties in, and you can research public record and see what they are paying for properties on the acquisition(and also ask them, but keep them honest by researching public record)...At this point become the best wholesaler to these rehabbers...you will learn a lot just in this process alone...How to evaluate Comps, Repair Values, Neighborhoods, etc...Which a great wholesaler will know how to do...It will make your deals easier to sell...Ultimately I would see which one of these Rehabber will be open to the idea of partnering/mentoring me on how to get into that arena...They may even allow you to follow the progress of their deals...Every deal has its surprises and over the course of 10-20 deals you will get a real life idea of what those surprises are, and even understand the "reason why" you calculate certain contingencies into deals and also what are the most costly mistakes or repairs to look for and avoid on deals...The value of this Experience will accelerate your learning curve...In my experience one mistake for a beginner can cost you a ton of money and even put you out of the rehab business.There is no way you can learn all the mistakes you must avoid by reading a book or taking a 3-day training program. 

Time to build the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Ultimately is a balance between what you're comfortable paying to obtain the right person for the job.

Of course, you need to read The Ultimate Beginners Guide to REI here on BPIf you haven’t already, please read/listen to these books ASAP!

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.

I previously served 5 years in the USMC and completed a tour in Afghanistan as an Infantry Squad Leader.I have entered the real estate world with the ultimate goal of having time freedom and financial freedom to live life how I intend and give back generously.  

Read Brandon's "The Ultimate Guide to Tenant Screening" here on BP for a good start.  

They could join forces and create the ultimate website of out of date inaccurate listings!  

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.