Hi Ashleigh,
People typically feel overwhelmed when they don't understand something. We all know there is a lot to know in real estate and it can get very overwhelming, but the key for you is to get laser like focus on one thing. Its hard to be an expert all at once in everything from acquisitions, direct mail, MLS searches, foreclosures, negotiations, contracts, rehabs, flipping, wholesaling, buy and holds, single family, multifamily, etc. If you want, you will learn everything, but you have to crawl before you can walk. Perhaps you want to look into becoming an agent to search for yourself on the MLS and save on the commissions and close your own deal. It will also help you learn the real estate market a lot better.
So if you want to do buy and holds, just focus on what makes a good rental property. Focus on the math you need (50% rule, 1% rule, etc.) Make sure you understand all your expenses from property management, vacancies, maintenance, interest, commissions, etc. Make sure you don't buy something too expensive where your cash flow will be negative. If you don't know how to fix things, learn here on bigger pockets on how to find a good contractor and property manager. Take one step at a time. It honestly sounds like your not ready yet and that's okay. There is a difference between paralysis by analysis vs just jumping into something. You need to read a few more books, listen to some podcasts, talk with us on the forums and it will start making sense.
But I would also start with just getting your finances in order. Save a good emergency fund because you will need it for rentals. You need a good margin of safety, a good chunk of change to fall back on first. Increase your savings, you don't have to jump into buying something this year, take the rest of this year to maximize savings and make a goal of reading 10 books this year on rental properties only and stay active on biggerpockets. Make a goal to buy a rental property in 2016 after you have done all your research and saved a good amount of money. The last thing you want is to take all your hard earned money, especially when you don't have much and no room for error, and make a mistake on your first deal and have to close up shop before your business even takes off.
Don't rush, we will all be here for you, you will know when you are ready. And when you are, just remember if you want to cross the ocean, you have to have the courage to lose sight of the shore. But that doesn't mean you haphazardly take off and don't bring food or fuel etc. But once you are well prepared, you have to just go for it. Best of luck, let me know if you need any help.
