Quick intro and question about your general thoughts on the 'market'

[Wesley Sun]

***I posted this on another forum a bit ago before I realized it probably belongs here. Didn't mean to spam the site!***

I am new to the site and generally new to the 'business'.

First of all, great site here and many, many thanks to all of you who are so willing to share your knowledge and experiences. I Love It! you guys and gals are great! I am reading and learning a LOT!

Quick intro; For the past decade or so I have owned and operated my own telecom construction business and we did pretty OK for most of that time. Telecom is changing and our business is slowing and I have found myself desperately looking for my next 'gig'.

I have always been around and had an interest in RE. About 6 months ago, when my business started showing signs of the slowdown, my Father in Law bought a foreclosure from a Hudson and Marshall auction and I (with my 'crew') rehabbed it for him. It appears that he'll do OK with that house whether he sells or rents it.

That experience, along with my failure to identify anything else that makes more sense, has me strongly considering making a go of a RE business. I am an educated guy (Go Jackets!) that has run my own $1M annual business. I am experienced in construction. Unfortunately, I have NO $$$ (trying to keep my current business going has drained everything we had - that's another different story). But my FIL has some funds available (maybe $150K) and he wants to be involved, financially anyway.

SO, my question...

What are your thoughts on the current 'market'? I know we'd have to start out small/slow with our limited funds. If we're smart and work hard, is there a living to be made?

I'd think the real key is finding and securing the right properties. How hard is that?

Seems to me that with the RE market the way it is, everybody and there ex-home-builder brother would be out there trying to do this. And more power to them, that's what I'm out there trying to do, but is the market saturated?

No need for specifics here, just trying to gauge the overall 'attitude' of you guys who are out there making a successful go of it.

Thanks in advance for your thoughts!
God Bless and Happy New Year!