I personally prefer flipping and that's what I do, however, i know the power of rental properties and that is where I am heading.

Hello Marko,Just checked this and see you have received so many great responses, yet there are many choices for you to make.

This way I can make a solid choice in deciding if investing would really be the right thing for me.

If you are marketing by telephone then the prospect will be influenced by your choice of words as well as by your tone, inflection, and personality.

I know leverage is the key to making money, but my other goals in buying investment property are:1) minimize transaction costs2) being able to close quickly to get preference when buying REO's.Currently own my house free and clear.

I would prefer to hire a real estate attorney for this transaction.Any thoughts or ideas were be great.

I prefer having things as simple and organized as possible.

Personally I prefer the older cheaper houses.

I prefer getting an additional policy on the house as a cost of doing business.

It's all a matter of preference, both strategies work but you need to figure out what your strategy is going to be before you jump in.Spend some time drawing up a business plan and stick with it until you find something that can be improved upon, then make the change to your plan that is necessary and roll with it until you find another improvement.