I don't think you need to do much. But this depend of your nationality. Some can buy an house here, some have restrictions, some cannot buy. Then, you have to get the permit of stay (permesso di soggiorno), the lenght is up to your nationality. Unless your origin are of the E.U. you cannot work in Italy.
Loradu, this site concentrates on travel-- As another poster suggested, you'll get lots of excellent advice and pointers at Expats in Italy, including a message board devoted to that topic.