In the lease option business, I would be licensed, whether Property is located in WV or FLA.Then I would look for home seller problems, such as expireds, cancelleds, long days on the market, eviction court with DIY Prop Mgrs, etc.Also wholesalers that have leads with little equity.If you are in the "solving problems for sellers" pretty houses with little equity is a good niche. 

Hello Guys,I am in process of Refinance to lower my payment by getting rid of PMI, the process has not been great with this specific lender I am working with.

Specifically, Eugene and Springfield.My current fulltime employment gives me wholesale access to interior finish materials and all of the right contacts for sub contractors in the area.  

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.

@Mike Lee, to answer some of these questions we need to understand the concept a little better (need specific on rate of return being offered, etc) and assess the risks/reward.

If you have unlimited time - then sure, go for it.If the BP books are not enough, then figure out what specific topics you want to dive into and ask again.

Is there a specific procedure I should have followed?

State specific law may be very important, so make sure to ask your lawyer to check this as well.

@Harry Gamble The cost of insurance will vary greatly based on the individual property types, specifics, and locations.

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.