Investing in a Poor Rental Market... Do? Don't? Ways Around it?

[Teresa Page]

I'm trying to jump into real estate investment and I hear frequently that your first few deals should be in your own area or market. I live in an oilfield town where the rental market is doing poorly. There are more rentals than tenants and rent prices are dropping. Does anyone have experience investing in an area where renting is either unstable or doing poorly? Are there ways to still invest or should I start in a "foreign", more stable market for my first deal?