I’ve picked up several books frequently mentioned on the BP podcast, including, The Book On Investing in Real Estate with No (and Low) Money Down.

The interesting thing about Phoenix, because all the houses look the same, you can't tell the difference between lower income and the middle classes.

I have done some research and I have some basic understandings and questions1) Looks like I need to know a "conversion to rental date"  Is this just any date I want to pick after the 2nd house closes? 

I second this question.I also am curious like @Alexander Brian Frederick why you picked Wilmington instead of Philly. 

Pick a solid B-Class suburban area.

As the mountains collapse and the seas rise, how are you pick your good locations?

@Colin Courtney I'd start with the basics - pick a niche you want to focus on. 

Then the property title would be transferred into the LLC, thus giving you checkbook control over this and any other assets you will purchase in it.Here are some of the Checkbook IRA benefits:Ability to execute transaction directly without going through custodian or IRA Administrator, simply by writing a checkEliminate transaction fees and asset based fees (you will need to pick the right custodian with proper fee structure, the company you will chose to do this for you will help you make that selection)Eliminate delays and 'red tape' that often comes with having a custodian handle every single transaction, you can act on best investment opportunities immediatelyHope this helps. 

Been looking at the few past months of tax deed sales and it looks like you can pick up some “decent” properties.

v=AFIxi7BiScIA video from DW TV about Wealth people and middle class - pay attention to the super wealth real estate investor, immediately I turn a fan of that "monster" .. watch the video.my name is Thiago Zanetti (TZ is fine since no american I met yet can say Thiago correctly :D )I have been listening to the podcasts daily, reading some books, doing some researches online.In 2000 something my father gave me Rich Dad Poor Dad, that consolidated my idea of starting a business.I own Fly Shop Brasil - Brazil's premier fly fishing shop.Ok, that's my introduction.