What exactly do I need to research prior to purchasing?

Seasoning starts the day you purchase, and you can start the loan process prior to the 6 mo seasoning; just can't close prior.

Are the costs to get each rental ready considered part of your existing business and are those costs prior to renting each VR considered expenses in your current business or do you have to add the expenses incurred to the cost basis of each VR that you buy .

Not having a full market study, specific to this property is like starting a business without the prior market study and assuming arbitrarily that you'll get a market share of x%.

Marcus,You would need to work under another broker for two years as an agent prior to being eligible for your own broker's license.

@Jose Duarte To clarify some of the prior posts, transfer taxes in PA are generally 2% of the cost of the property you are purchasing (1% Commonwealth of PA and 1% local jurisdiction).  

While looking for properties with the aid of Excalibur I experienced horrendous inspections twice (I won't even consider a property now that has prior pending sales that fell through) and also experienced MLS properties being scooped up right after listing, even beating out my full price offers.   

So if properties come up prior to 5/17 I will have to make a trip back and possibly make an offer sooner. 

Normally in this case your agent would go to the seller prior to showing and ask if they would be willing to pay them a commission (normally around 3%).

When analyzing your NOI prior to purchase, I recommend you be sure to include all property maintenance items in your expenses.