Getting inspections are a good first step to double checking value.

Here's a couple articles that might help you out:How to Be a Landlord: Ten Tips for SuccessHow to Rent Your House: The Definitive Step by Step GuideHope those help some!

We have decided the first step is to learn as much as possible so we know we are making educated decisions.

My question to you all is what are the first steps I need to take to get started?

I could tell a seller that the hill is so step that a cow couldn't graze there and that the property was less valuable to any rancher,he could certainly say it would make a great ski slope!

If you haven't yet- check out this post where I document a recent purchase I made in Aberdeen - How to Buy a Small MultiFamily Property: A Step by Step Case StudyKeep in touch.

Trying to figure out the best next step.

If you haven't yet, be sure to check out:"The Ultimate Beginner's Guide to Real Estate Investing" and How to Buy a Small MultiFamily Property: A Step by Step Case StudyWelcome!

It's a pain in the neck, and being a government loan there are a lot of rules and red tape - but if it can give you a huge step up and some equity/cash flow - i'd do it.

REIA meetings, Courthouse steps, BP, public records, etc.Again, any contractual needs should be fulfilled by an attorney but there are a couple on the BP FilePlace (under resources tab)?????