Also, I’ve noticed that some realtors don’t want to meet with me because I don’t have my proof of fund letters but how can I obtain that if I don’t know what kind of deal I’m looking at?

@Tony DiDomenico the benefit of obtaining a property that requires rehabbing is the opportunity to walk into some equity. 

I am aware that I need to pay $55 to obtain the license, but I am worried about choosing the right broker.

Once a property is all fixed up and stabilized is when a bank loan is obtainable. 

You should be able to speak with a mortgage broker about obtaining a rehab loan.

It helps in obtaining loans to buy more property. 

Once I make an offer I Place a relevant amount of earnest money with an escrow/title co. and will close 7 days after I receive documents specified, or if title insurance is necessary after obtaining clear title.

My only barrier aside from wanting to obtain more knowledge is capital and time.

@Ivan Mendoza - a lot of people see buying properties with sitting tenants as risk (which it is), however, this can lead to obtaining properties at a steep discount.If the property is on Auction.com it's likely (but not for sure) a mortgage foreclosure and the 'tenant' is the previous owner of the home.

Love turning chicken sh*t into chicken salad.I also have a SFR listing there and I encouraged my seller to offer money toward buyer's closing costs thinking we might get a number of FHA prospects.Thanks for sharing the details of your deal.