I have a science background = I know absolutely nothing about real estate other than what I had to go through to buy my house.

Its not rocket science, but there are some pitfalls you need to watch out for and its a little more than "hey, sign this" Although, you really could just get a deed executed and own the thing...My advice is like the others, read up on here and check with local investors and/or investor friendly attorneys in the area that can guide you.

Which is better - an old badly outdated unit in need of major repairs, that is located in a great area, or a brand new modern unit in a seedy area?

It's not rocket science.

I work as a market researcher/consultant in financial services so the science of analyzing investment possibilities comes naturally to me.

What would you guys recommend me to start with first as i have read through several post's on this website but kind of get discouraged at all of the "science" behind real estate investing.Thank you guys for your help and great information found on this webpage.

This is the area that most of seller's "creativity" is concentrated-so examine roof, plumbing, electrical, paint, applicances, and windows carefully.It's not rocket science- Always utilize a property inspector who is not only technically literate, but just as important, is truly professional / ethical.

My goal is to wholesale 3-5 houses in my first year, and then as my business grows I would like to wholesale more deals and then start doing rehabs which would be my specialty since I have a Bachelor of Fine Arts in Architecture, as well as currently working as a carpenter, and working on getting my Master of Science in Construction Management.

The kitchens have been modernized (granite & new appliances, but nothing fancy) and the baths have been partially redone (walk in showers, but left the old wall sink and floor tiles).My advice is to install tankless water heaters to separate the water situation and consider investing in ductless split AC units to handle the separation of the HVAC.Good luck!

The building is very modern and newly renovated, looks kind of like a Google office, very techie and open, just to give you an idea.