Investment in Rental Property
Free Investment in Rental Property Step by Step guide!
Real Estate Research 
Real estate research is key to finding the best value of a property to buy, and buying is where you make money.
Let me repeat this, "You make money when you buy a rental house not when you sell investment property!" You do not make money when you sell. I know this sounds contrary, but it is the truth. If you buy right, you will sell right. Even in the markets today there is more opportunity then when the market was good. People get richer during a recession / depression than when the economy is doing well. There are more deals & more opportunity at this moment!
I recommend investing in multi-unit buildings because when a renter leaves then you still have income coming into your pocket. It is more diversified. For your first investment, it should be anywhere from 3 to 4 units. I would not recommend less or more.
Here are a few more links for researching to find more investment in rental properties:
These websites have a free trial for 7 days. If you don't like them just cancel before the 7 days and it is FREE!
http://www.foreclosure.com
Next, write down some properties that look like opportunities. When you have found about 10 to 20 rental properties that look like opportunities go to the next step.
Do It Now! Step 2!
Do it Now!
Go look at the properties that you have written down. (remember you want to have multi-unit properties or a property that can be turned into a multi-unit easily or the worst house in the best neighborhood.)
How to inspect the unit?
After going look at the properties by yourself or with a friend, call the real estate agent with a list of the ones you want to talk about.
There are a couple ways to do this.
It is nice to have a team that can come with you look at the property. (this can come later but it should be a building process) A few people you might want to build relationships with are Accountants, Inspectors, Appraisers, General Contractors, Property Management companies. The key to building your team is to make friends with people and grow and learn from each other.