What are the watch outs or steps that you recommend?

I recommend that you contact a lawyer to setup this process for you.  

We do not require you to use our affiliate title companies but we do recommend certain title companies for faster closings. 

Nathan above gave some good software recommendations, any of which would probably work well.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I would also highly recommend you set some parameters when thinking about working with non-accredited investors or if you are one and want to invest on a large deal. 

I'd recommend attending investor meet ups.

Left me feeling like a basically have a retail/fulfillment person on my team so I'm a big fan and would recommend giving them a shot, especially if you're in a similar position as I was: Needing to furnish an STR quickly and cost-efficiently. 

I recommend continuing to learn pros and cons of each and determine which paths (I pluralize it as you should diversify even across real estate).

Bigger Pockets is a great place to learn and connect with fellow investors.If you’re looking to invest long distance, I definitely recommend building your core-4 team.