How should us new investors think about this?

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Hello all,

It seems like another RE dip is inevitable. None of us have magic crystal balls but I given the data coming out, from all angles, there will be another dip in the next 1-3 years. 

So for you experienced guys, my question is simple, how should new investors be operating RIGHT NOW? 

Let me add some context... I was on another small bloggers site and the options she laid out were as follows:

1. Gamble on appreciation.
2. Wholesale
3. Lend

The caveat to number 2 is that many seasoned investors (perhaps many of you) are turning down more and more deals that wholesalers are bringing to you, deals you would have snapped up 3 or 4 years ago. So, it seems to me that wholesalers are "fishing for suckers." 

But on the flip side I remember reading on this forum that some of you can care less about buying rentals at the top of a market.  I found that fascinating.

That being said, for you experienced guys, what would be your advice to folks who are simply house hacking at the moment?  If you don't have a ton of properties that are positively cash flowing, and you're simply house hacking, should you even consider acquiring rentals (especially using leverage) at this stage of the game?

Interested in hearing you guys' thoughts!