NEW to Investing and 7K to invest.

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Hello,

Im looking for honest advise positive or negative please. Im in my late 20's college grad with a 70K income. I'd like to start investing and possibly pick up my first rental property.

My situation:
As I mentioned I have a great stable job at 70K a year with a nice 401K growing. I still have some student loan debt, Auto loan, and some credit card debt. This 7K I refer to investing is my entire savings. I currently rent at about $700 a month and next year my rent will decrease to around $600.

Im looking for advise as to what direction I should go with investing. Should I try and purchase a rental property now or build up a stronger savings / emergency fund before jumping into investing?

I have lots of research to do I am completly aware but I am just looking for experienced opinions to my current situation.

Thanks!