@Sean Tracey I'm by no means the exemplary real estate investor but to get started I would:Figure out the return that you are looking to receive on your properties (for me ~10$%cash on cash)Figure out the type of properties you want to invest in (duplex, SFH, A properties, fixer upper to hold, D properties) - I'd suggest starting out with a SFH or duplex in an area that you would feel comfortable living (we do SFH and are looking to expand into duplex or apartment complexes with 8 or less units)Start talking to investors on BP and calling realtors in your area.

(Just going out on a limb here, but I think there's still a bad after taste in their mouth from how poorly the property was managed and all the s#!

Could you just get regular homes not fixer uppers at regular prices and put a downpayment big enough on them if your goal was only passive income and not roi.

However, fixer uppers will be my primary focus. 

We're looking for some fixer uppers in the Golden Triangle (Port Arthur, Beaumont & Orange) area for now. 2bd, 1-2b & 3bd, 1-2b in the $50k or less price range.

The upper floors shows 1"+ Sagging of the floors, so much as you can really feel the slope walking through the rooms.

I have a friend that is a real estate agent so my goal is to find the "fixer upper homes" with the client and then rehab it for them.

You approach the current owner and lease out the upper unit and make the lease assignable and make it long term (for less then what you can rent it out for).  

@John W Sheffer JrJohn; I'm actually a more of an an "Acquisitions Manager" for a small development company, dealing mostly, but not always, with foreclosures, distressed, and fixer-upper properties.

In which case you can click the dots on upper right hand corner, then click quote, and delete anything you don't want and just leave the @name