Other than that, the amount of expertise to do what you want to do exists somewhere at BP, but I wouldn't think it would handle things sufficiently to make you any money.

@Mike DeBuccio Jr.My biggest fear is that I won't have a sufficient pipeline of deals directed to me as a newbie when there are seasoned investors with active marketing that will beat me out. 

But as soon as I grasp sufficient knowledge on REI, i would like to start asap!

On the same token, know what you need to get the deal at, and don't get emotional on it.

Buying a house is a lengthy process, so this should be sufficient for you to have minimal overlap.If you do sign a one year lease, and want out early, the specifics will depend on your lease.

I'm also wondering, what title search services investors are using before bidding at auction.Does anyone still do a full title search with insurance before closing are is a service like easytitlesearch sufficient?

@Hunter ThompsonBen answered your questions sufficiently.  

From what I was able to see upon the initial inspection, we do not have sufficient pitch to the existing structure, and I believe that in conjunction with the condition of the roof is the reason why there is substantial damage to the second level of the property.  

This is all assuming you can buy them at sufficient discount (often pennies on the dollar, which you can in these type of neighborhoods, usually from those distressed remote landlords that don't know how to run this model) to make it economically feasible to fix them up just enough to get you to your exit.

Its not just sufficient to talk about returns in the finance/math class you told another poster to take, you have to factor in a risk adjusted return.