Is this advice accurate?

[William Sullivan]

After speaking with several real estate professionals, and one in particular, I’ve collected a few controversial ideas and beliefs. I don’t have enough experience to determine whether or not these are accurate assessments of the market, and I’d love to get your opinion:

1. There’s no such thing as a hidden gem anymore now that we have the internet.

2. If you renovate, you’ll end up spending the entire purchase price again just in repairs.

3. It’s better to save money now and wait for the market to turn.

4. I suggest you do FHA even if you cannot actually live in the property.

5. There are no holes in the market. It’s so saturated that there’s no room for a competitive advantage.