IRA for first investment?

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I just recently changed jobs. I make about $60,000 a year at my job, and have solid credit. I rolled my 401k into an IRA with my credit union. Theres about $6,000 there. My intentions have been to use that money for my first investment. My dad, has also stated that he has always been interested in investing as well. He has a full time job, and his credit is excellent (750+). He said he currently has about $4,000 in cash available. I've been studying for a few months now. I've been listening to the BP podcasts everyday. I'm confident that I know enough to at least get started. I'm currently evaluating potential investment properties. I'm still having a tough time deciding my first investment strategy. I want to get into real estate investing, to be a buy and hold investor. However, I don't feel that I would be able to financially handle vacancies and large repairs at this time in my life. So that has me leaning towards looking for property to buy and flip. I'm just looking for some of your thoughts on my situation. If anyone started out similar to me. I would really prefer to buy and hold. Thanks in advanced everyone!