I will begin by cycling I am a little biased towards Cleveland, Ohio - if you have not seen this market, I recommend looking into it, $50K down payment can go a long way in good well established suburban neighborhoods.

Branch of a Foreign Bank or Insurance CompanyInterestDividendsCapital Gains (Income Code 9)RoyaltiesReal Property Income and Natural Resources Royalties (Income Code 13)Pensions, Annuities, Insurance Premiums, and/or Alimony (Income Code 14)Scholarships and Fellowship Grants (Income Code 15)Pay for Personal Services PerformedPay for Independent Personal Services (Income Code 16)Pay for Dependent Personal Services (Income Code 17)Pay for Teaching (Income Code 18)Pay During Studying and Training (Income Code 19)Artists and Athletes (Income Code 20)Real Estate Investment Trust (REIT) and Other Trusts Distributions Subject to IRC section 1445 (Income Codes 24 and 25)Unsevered Growing Crops and Timber Distributions by a Trust Subject to IRC section 1445 (Income Code 26)Publicly Traded Partnership Distributions Subject to IRC section 1446 (Income Code 27)Gambling Winnings (Income Code 28)Notional Principal Contract Income (Income Code 32)Substitute Payment - OtherCapital Gains DistributionsOther Income (Income Code 50)

Briefly, you want to:- establish current condition, renovation costs, market value, rent rates- complete a proforma based on those fundamentals so you can begin to get an idea of what your financials are looking like- from your proforma & fundamentals above, establish a price you can pay for each home & begin negotiationHappy to provide more details where needed- good luck and reach out any time!

My biggest advice, never, ever let them get ahead of you on draws and I would advise until a level of trust is established that you purchase all the materials.  

I'm quoted $2,250 The cost for each additional series is ~$200 after you have established the main LLC.  

However, I definitely feel driven to make it as a real estate investor, and have been researching and gathering as much information as I have time for.My goal is to establish a portfolio of around 35-45 units and hopefully generate enough passive income to where I can comfortably enjoy my life, independent of 9-5 work commitments.

Establish credit.

Torrance and Carson are established but also have rough patches so I would beware if any home bordering $400k in those cities.  

After leaving the service he was employed with Proctor and Gamble in sales.

If you think you want to wholesale, start as a bird dog for someone who is already an established wholesaler in your market.