starting out

Just starting out should I search for foreclosures, tax sales, SFH, OR new homes for my first investment? Where is the best place to look? Should I look to owner occupy? (renting right now!) What are some of the pros and cons?

What are your goals? Where are you? How much money do you have? what is your credit like?

I am in Austin TX and my goal is to aquire investment properties in 2006 rehab them and lease them out. After I have built some equity I hope to do the 1031 exchange and continue this process until I cash flow 5k per month. Is this realistic?
My credit is not so good, however my father’s score is over 800 could he cosign and be my partner in this process. should we form an LLC? I just dont know exactly where to begin.