I think all you need is a title company to close your transactions - no don't need an account at this time - most title companies have lawyers to close your transactions -You should make sure that you buy real estate at a giant discount - Understand the management process - learn how to be a good landlord - a tenant is a customer - the tenant is the person who will pay for your mortgage - treat them well.Find discounted real estate from landlords who find themselves in rent court -Start to deal directly with owners - I don't think you should depend on agents selling retail properties - you need to go under-ground for great deals -Tax salesPublic AuctionsRun print ads and radio commercialsInternet - 5 weeks ago I created an internet site - I have received over 200 leads - have 70 offers out there and 15 ratified contracts - learn those systems and you will do well.Expired listings - go knock on some of those doors - an expired listing is  FAILURE of property to sell - I am sure the sellers are not happy - go find them and solve their problems.Direct mail to commercial properties owners - commercial buildings can be  great profit center - when you advertise for real estate - signs - internet or mailings always advertise - WANTED REAL ESTATE - houses - commercial and non-conforming properties - all cash -as is - no commission.

@Satish Kethineni - I believe this is more market dependent than nationally.

It will also depend on the ease of selling your lots.  

Keep in mind, mortgage products will differ depending on whether you will occupy the property as your residence or strictly hold it as an investment property.

Depending on your investment criteria, I may know of some areas that might interest you. 

And you may have to replace/repair more when you turn over from tenant to tenant depending on how badly they treated your property and what kind of condition you want to provide for the next occupant.Good luck with it all.  

I agree about friends and business not mixing well but family maybe it depends on the relationship and dynamic of that family and which member of the family chosen. 

To address the type of flooring material, first off, if you want a "luxury impression," stay away from the laminate fake wood.I would consult a local expert, but that said, I understand engineered products--with a substantial veneer thickness that's able to be sanded and refinished--are both functional and comparatively inexpensive to install over a grade-level slab.In terms of color, this is always subjective (and depends on what's going on with the kitchen finishes), but I would recommend a mid-tone finish for a flip.

If so, then get the current owner to get lien waivers from every contractorIf not, I would have a lawyer writeup in the agreement or have $ held in escrow post closing to cover any potential liens (depending on state they have 90 days +/- to file a lien)2.

But it really depends on the bank really on what they will do even with the long term loan.