You will need to get a game plan in place. 

The more readily available properties right now are commercial but that is a very different ball game and I wouldn't recommend that to someone like yourself just yet.

of course, i am going to get multiple coats of poly to finish it off. 

In terms of forming one in each state - honestly, I think it's best to get really familiar and find success in one state and then branch out and deal with the added complications of working in multiple states (a lot of laws can change from state-to-state, so again, it'll just add to the confusion if you choose to work all over the country from the very beginning).

Multiple 2K deposits + having the ability to close on loans in the future (when there is uncertainty at the top of the market) can add up.

Any advice on selecting a Realtor when you have multiple friends that are Realtors?  

Any response is appreciated.We are looking at multiple properties.

That is why you may have to do two closings and budget for both of them in an attempt to not let the seller that you are making a profit on what you are doing.In this economy Fix and Flip may be the best way to go including the borrowers that are willing to finance your repairs or rehab or to purchase multiple unit houses with a loan that the FHA will provide you with a low down payment but it is only made to an owner-occupant for regularly 12 months and you get to keep that same loan if you even when you choose to move away.Another thing to consider is to buy apartment complexes and take the advantage of positive clash flow and using a cap rate to increase your value on add-on properties and raising the rent. 

I am new to the real estate game.

Of course some months are easier than others but it’s all part of the game.