If you don't mind, I'm going to share with you a step-by-step guide that commercial brokers in NYC like myself would use:1) Check market demands: Before anything, you'd need to find sales and rentals reports for your neighborhood and check the current inventory.

They are only buying, and I would NOT plan on being a listing agent now or in the near future2) If I were to want to switch to commercial real estate, what are the first steps to take? 

When we heard he called the building inspector on us my husband and I went over there right away and he and his wife stepped out on the porch and started yelling at us, calling us names, calling us a slum lord.  

With that said I have since turned my sights to another market and have not pursued it in Myrtle Beach. 

If you'd like some tips on finding a great PM company and what to look out for, I recently wrote a blog on finding the right property manager as an out of state investor, and many of those steps will apply to your situation.

There have been stalls every step of the way, because as I said my tenant is a professional.

Luckily I have a friend who does design/build for restaurants to help at least guide me on the basic steps for the renovation so I am not flying entirely blind there.  

I would think house hacking a duplex would be a good first step.

Everyone wants to be a real estate investor, but getting your finances right is step #1.  

And you watch how that person, who you tried to help, turns into a completely different person and tries to do you wrong.This is why you want to only rent to good credit renters as you have recourse thru Small Claims Court and depending how much they tear up and past due rent they rack up, step it up into the higher courts and go after them for what they owe!