Learn about and educate yourself on buying foreclosures, in the next year there should be an influx with all of those currently in default. 

We are in an environment of unprecedented cap rate compression and record low interest rates which is only headed in one direction after this is all over.Yes, make no mistake, the music will soon stop.That has very little to do with an upcoming election and is regardless of who wins the White House or who controls congress after November.If you've listened to Kevin Bupp and Rod Khleif, you know what happened to their portfolios in 2008.These were no amateurs, as a matter of fact, they had many years of investment experience when the music stopped.They both weathered the storm and came back stronger and that is why I remain a shameless fan of both men till today.Several others were not that lucky, and you will never hear their names.In this space today, there are investors and there are educators.The educators have taken over the habitat.That is why there are now more podcasts on real estate than I can get through in a working week.Real Estate education is so very lucrative now that it is possible to make way more money from podcasts and books than in actual real estate investment for some gifted marketers with smooth tongues and gifted content creators.more....To read full article,click link below:https://www.biggerpockets.com/...

You need to start with educating yourself on the development process as a whole first.

It starts with educating yourself on the market and the space and developing the proper skillset.

For the past couple of weeks, I have been scarfing down as much education as I can and am really enjoying learning about real estate.My question is: when do you consider someone 'ready' to invest in their first property?

They have a successful business because they learned, failed, grinded and educated themselves to get to that point. 

It sounds like you need to get some more in-depth education, but I'll give some free information to get started: You need to market to find motivated sellers.Good luck.

Way too much for this thread, so you need to get educated, if you haven't yet.

If you want to self-educate, there are an insurmountable number of posts you can find by searching BP, either with the magnifying glass above or through google.You don't need lease agreements between you, the LLC, and the bank.Just keep track of airbnb revenues, rental days, and all expenses. 

HI you can look into https://www.nachi.org this is a credited home inspector education association and it is nationally credited.