For me, when I got started it was a) access to cheap private capital (family & friends), b) a willingness to house hack and live with roommates, c) location in a city with a cheap real estate inventory, and d) a friend who was also investing and could help me with some contractor contacts.Yours will be different, for example maybe you know a certain area of the city very well and can recognize underpriced MLS properties, or you have the time to send out direct mail and take phone calls, or you have the temperament to knock on doors of potential sellers, or you are very handy and can save money on the rehab, or you have a very long-term investment horizon so you can buy in marginal areas, or you love networking and can convince someone to JV a deal... you get the idea.  

You can't be held responsible for what THEY decide to do.I wouldn't deny access to the house though.  

Area average is 750 on rentometer and my brother gets 700 for his units a few blocks away.  

@William Kyle Walker  again don't know the context but I have been around a few blocks a few times.. and if I have seen people flame out in RE its robbing peter to pay paul.. its slippery slope that once you get behind many times you can't recover and it just gets worse and depending on the situation here IE you have investor it can move to a criminal type thing..

PVP (including the less jumbled up blocks/areas of san pedro) is synonymous with luxury (unlike Compton and increasingly many urban areas of socal) so at least there is value added / luxury potential appeal to any multifamily you invest in, ie get as a fixer upper deal and actually hold long term for rent cashflow - as opposed to flipping(which subjects u to capital gains).

That sounds like a great plan for us.I am going to get my real estate lisence, to have access to the MLS.  

I would use a broker, as they have access to multiple insurance companies, rather than going to a single agent that represents a single insurance line (like Farmers).Andy

you are going to have to get access to the property and have some one help you estimate the repairs. 

The "personal gain" for your Realtor in introducing you to a preferred lending partner is likely to be limited to transaction comfort and accessibility  as well as referrals to other buyers/sellers. 

I would get it under an option contract subject to you having access and doing more due diligence.