The option money may be non-refundable but the amount will or will not be credited back to you if you do close on the property.Another item you mention is disclosing a defect-Texas has implemented some very harsh wording that states the Seller has to disclose, and if by chance the Realtor is aware of the defect they need to make sure the Seller has disclosed-lets face it we are all scared of any legal action. 

Nice job taking action. 

I am spending a lot of time educating myself on REI but i think it is a time to take action!!!

My local title company takes about 10-14 days to do title search and prepare to close.

On to my question.I'm reading "The ABC's of Real Estate Investing" by Ken McElroy and I decided that I really need to take action and purchase my first MFR property this year.  

Find the banks personal and commercial mortgage lender (likely two different people) and be prepared to show that the property will cash flow.  

What more research outside of learning through action would you suggest @Steve Yoo?

Just take action.  

You have come to the right place to get focused and start taking action! 

I spoke with Keller Williams just as I was preparing to get my license and they recommended a inexpensive school that their agents use and were happy with.