I would start going to RE meetups consistently and talk to other investors. Hear their stories and you'll start to get a feel for what excites you and what doesn't. At the same time, you can read Bigger Pockets Book on Flipping Houses. That's a good book and I'm sure they have one on Rentals that you can read too. Also, listen to BP podcasts and you can listen to Rod Kleif's podcast on multi-family (apartment buildings). Also, do you have any kind of competitive advantage in an area? For example, do you sit on the board of a condo assoc? Then you're somewhat knowledgeable in the ins and outs of apartment buildings. That's just one example
As you said, there's a lot of different niches. Speaking in general terms (not so much in niches), my experience has shown me that doing flips and doing rentals require different mindsets. You can do both (and I do) but they are different. For me at least, flips are like groundhogs day. You're starting over with each new flip/deal and I get the same anxiety each time when selling it. However the paydays are awesome! With rentals, once you renovate, find renters, and refi, you kind of just sit back and collect the cash flow. Again, this is just in terms of flipping and rentals. There are obviously many niches within those 2 broad categories.
Once you choose your niche, then choose your target market. Choose one that will fir the niche you want to get into. Learn the market like the back of your hand. Go look at the insides of houses on the market, look at houses on Zillow, and talk to realtors. Then start investing!
Keep educating and keep networking. Good luck!
