Newbie to REI (Q #1) - how much to know before doing 1st deal?

[Mason Blake]

Hi there, I am new to REI and have not yet bought any properties. I am researching and learning and there is a lot to know. I love the learning process, so I don't mind, but I am mindful that my personality would be to reach some end state of knowing enough before diving into my first deal. I don't want to do that b/c I there are many deep wells of knowledge in this industry.

My question: how far to go with your understanding and knowledge before attempting your first deal? When you were new, how did you approach this? 

You may ask "what type of deal are you considering?" which is absolutely a great question, but I don't know yet. Wholesaling appeals to me, but I don't feel like it's my first one - my inclination is to buy a smaller lower-value home to try the BRRRR method or at least put a long-term renter in to it for some passive income.