Chris E. maybe reach out to a title company and ask what the process is.

We supply all finishes ourselves, so there is no risk of the contractor supplying the wrong finishes and it saves the contractors time from having to procure the materials themselves.For non-finish materials, we let the contractors supply and aren't picky about brands.

@Stacy E.

So far what I currently know for residential is listed below;- REO (Can be found on bank websites, just input the city & state)- Craigslist, Zillow, Trulia, HotPads, Realtor.com, - Realtor, MLS (Already have listing e-mails set up, for three cities (Atlanta, Augusta, & Athens Georgia) with a realtor that is investor friendly)- Driving for Dollars, and utilizing listsource to find leads for Absentee Landlords and Homeowners with high levels of equity- Talking to people at work, supermarket, subdivision, etc.3) After buying one property and finally seeing that I could generate additional cash flow, I want to start planning for future commercial purchases such as apartment complexes (20 Units).

I got one of my multi families properties to confirm it in a e mail.

But I'll also recommend the intelligent investor as well as the E-Myth in real estate.

I (yeah, I did it myself) put a huge scratch in a brand-new floor on one rehab when I didn't realize that the refrigerator leveling bolt was sticking down and I pulled it out.

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

Those expenses include:RE taxesInsuranceMortgage Interest Depreciation - (amount you paid for house+improvements/27.5)UtilitiesRepairsAdvertisingFor a full list of "usual" expenses, search Schedule E on the web.In many instances, landlords make little to no money on paper.  

I appreciate the feedback from everyone, Im working the quit claim deed option now.I hadnt planned on using this as a forum to analyze the deal but since it appears to be the topic of conversation I will share what numbers I used to analyze this property.Purchase 80k with commercial loan 25% down, 20yr, 5% apr (P&I : $395)Per month cost:  tax - $80, Ins - $80, vacancy $70 (8%), maint $45 (5%), PM $90Notice no CapEx because I plan on keeping $5,000 in the LLC's checking per house to cover this.Rent $900 based on Zillow, Craigslist and the Basic Housing Allowance for a E-5 (target renter)FMV: Conservative $110k (recently sold houses on zillow average 120k)Cash out of pocket ~25k, Cash flow per month $140 ($1680)   =>  6.7% return on investment, not the best but better than what my Etrade is doing right now.IF I refinance 80k, P&I - $528, I will be able to pull nearly all my money out of the deal but kill my cash flow.