Successful individuals in the business of real estate (Donald Bren, Rick Caruso, Donald Trump) have fared better than investors.

ok i was just wondering as a first time home buyer would this be a big mistake going online and using websites like Trulia zillow etc to look for my house and just contact that listing agent and set up a meeting to look at the house and if i like just buy it at the listing price? 

Looking around online it seems other condos in the area are renting for $1300-$1400 a month.

There are a lot of PM software systems that allow you to bill and collect rent online.

This, coupled with an online portal and rental capability along with utilizing a call center allows me to manage the properties from home for the most part.

Purchased and began my online real estate license course (via Kaplan). 

You and your other investors can avoid the 1065 filing requirement and just split income and expenses on your schedule E(s) for your individual return(s).You may have very good reasons for forming a partnership.

There is free software out there that will effectively market your property, screen tenants, price your rental based on comparable properties, provide renters insurance and online applications, etc.

The individual lot and zoning will affect each and of course whether or not it’s already a part of the existing house.

Luckily, much of the necessary info is meanwhile online.