Beginner Questions. Please help...

[Mike Rubin]

Alright so I would like to start off by addressing my situation. I am a college student who has a bit of money to invest. With property prices so low because of the economy, I would like to buy some now. One of my questions is: What types of things can I do with this money which involves real estate / property ownership? Also, I heard about investing in property and renting it out to other people. How do I go about getting started in this?
I have lawyers (family friends) to help create contracts if needed. If there is anything I am missing here please ask me but I need some help from you guys about what to do with my money.
Thanks a lot for your time and I hope to hear back from you soon