What is the process, can they garnish wages, what if you also have a loan with colateral.

I’m interested in how veterans of real estate investing broke into the market. I’ve read too many books and listened to too many seminars that pin your start on deal-of-a-lifetime type purchases and shady accounting.
Do you think its worth buying, improving and selling a home in a short time? Do you think buying and renting is the better way to go? (Renting seems better if prices fall but carrying several mortgages is as scary)
What kind of financing did you use? Down Payment? (Yes/No/How Much?) How much was your initial investment if you were improving the property? Did you take out any loans to cover your improvements?
I’m in my mid 20′s. I live in the South Shore MA area. I don’t pay rent and incur about 0 monthly expenses. I have a good full time job (+50K), some saved money (+10k) and good credit. I’m very organized, fairly well educated on the subject (a lot to learn) and i have friends who are listing agents and contractors.
Any feedback/contact would be appreciated

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Thirty-one years from today you want to begin receiving ,000 per year for the following twenty years. In order to build the amount of cash necessary to fund those receipts, you plan to make annual deposits into an account earning 10% interest per year. Your last deposit will occur at the end of the 30 th year. What is the amount of your annual deposits that will eventually fund your receipts?