Education to get Started?

[Mayank Saxena]

Hi Bigger Pockets community

Yes, another newbie here - but I want to ask experienced Investors and others about how to learn the "measured" way.
I've been listening to the BP podcasts for over a month, have seen & attended Brandon's webinars, and have read great posts/articles here - but I still fail to find a structured approach and learning.

Despite being a newbie, I'm more old-school in that I'd to have a solid foundation of understanding the basics.

Some questions I had;

- working out formulas using my own hand so I know exactly what I'm doing, instead of initially relying on the BP Calculators
- what's an NOI, Cap Rate, CapEx,
- how to estimate repair costs by just seeing a property on Redfin
- Living in L.A., is it better to start house-hacking in an expensive market (how can I even get in), or go out-of-state where entry-level is more approachable.

I have tons of these logistical questions. I guess I'm looking for a more sequential, progressive way of learning.

So any recommended ways to go about learning this? I see a course by Coach Carson. I know people take Real Estate courses (not terribly interested becoming an agent, would happily partner with someone who is - but am willing to if it'll be invaluable), or should I just read books? Currently, here are the books I'm reading;

- Real Estate Investing for Dummies (by Eric Tyson and Robert S. Griswold)
- How to Invest in Real Estate - the Ultimate Beginner's Guide to Getting Started (by Joshua Dorkin and Brandon Turner)
- The Book on Rental Property Investing (by Brandon Turner)

I've attended some BP webinars, I already get the whole Brandon buying his daughter those 3 rental homes that'll pay for her education, etc etc. Yes I'm motivated already - but I'm looking for a structured way to learn this.

Also - side bar, I rent in a rent-controlled apartment in LA. While I'd ideally like to house-hack in Los Angeles, I'm afraid the entry-level price here is too high, which is why I'm interested in investing in multi-families out-of-state. I'm hoping my education, which you guys will help me figure out, will guide me in seeing if I should invest out-of-state while still paying L.A. rent. Isn't that a zero-sum game?

Sorry if my post is too long. I'm not here to ask "hey newbie here, any tips?" - I'm seeking to learn by experience, but only after learning the fundamentals (the math) and then jumping in.

PS - I really enjoyed listening to the podcasts of James Wise, Cory Binsfield, Mike McKinzie, and liked listening to an L.A. investor who invests in out-of-state (I forgot his name, but remember his Milwaukee partner's name is Dawn @ Core Properties). Thank you guys, if you're reading.