Just starting out, I would begin with acquiring as much information as I could through reading books, listening to podcasts and being active in the forums.

Yes technically it becomes a month to month lease if you are using a standard lease.

A friend of mentioned Florence, Alabama and I became interested in the area especially after reading David Greene’s book Long Distance Real Estate Investing and finding out that there are deals that can be made there.

He also let me borrow the book "THE BOOK ON Investing in Real Estate with No and low money DOWN" which I am currently reading.  

I have read many books related to investing and think I have a fairly descent handle on what to expect.

Adam Bergman's book "The Checkbook IRA" is one of the reasons I elected to go with IRA Financial Group, but I did want to check with the BP community. 

I have been interested in R.E investing for a year or two now, and have been educating with books, podcasts, and BP for a few months.

Buy BradonS TurnerS book.

This would not have been possible without the BiggerPockets Website, Podcast, the books I have read and a lot of persistence, patience, and planning. 

I am currently learning and soaking up as much knowledge as I can.Do you have any good books/podcast/videos that are good with helping me get started with my first Investment property?