Your first action should be getting familiar with contractors, realtors, suppliers and competition. Using the internet is very important and I will also supply links soon.
If you are not qualified to inspect the condition of your purchase definitely hire a qualified inspector, it can make or brake your success. I am sure you heard it before, the 3 most important items in real estate, location, location, location. More details to follow.
Don't make short cuts, they will come back and bite you. I have been bitten. Money:A good way to loose friends and family...just spell it out in writing. I have done it with success and failure.Know what you can do and learn what you don't know. Starting out can be a financial drain. Choose contractors wisely .
Just a few preliminary thoughts. I have been in business for over 40 years and made all the mistakes possible.