The overwhelming majority of people start from scratch.  

If the below links do not answer them, then, please revisit and post the questions.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of book recommendations.The book link below will get you started.http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

He grabbed power for it from an adjacent bedroom duplex - no GFCI!

It can be a little overwhelming at times, but I'm so excited to start. 

Never underestimate the power of a search engine.

The short sale negotiator was very appreciative of the excess paperwork as it gave her something to show the powers that be.  

It's good to see that you have a strategic plan and willing to give up your evenings and weekends in an effort to achieve your goals.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

Because they are not the same thing.The vast, overwhelming majority of single member LLCs provide no meaningful asset protection.  

And I told him I wouldn't put him here if I didn't believe in him, and I was going to do everything in my power to deliver him the most opportunity and hands-on support to make this transition a success. 

As long as you can pay down your credit card debt with your normal income you can keep everything in your real estate business in a separate account that you can then use to buy more real estate.You should consider picking up everything in the package as well even if they don't necessarily cash flow well. 1031 exchanges can be a powerful wealth building tool that can see you into more multifamily properties faster.