The fact that this sponsor used investor money to gamble on high yield unsecured notes leaves a bad taste in my mouth.  

. :-)With that being said what you were doing is definitely a gamble.

Being an agent is a great way to fund your investment properties and get more immersed in the industry.

Unless you really know Baltimore I consider buying there gambling , not investing .

I wouldn't bet on either at this stage but if you like a gamble...

Trying to weed people out at local REI meetings to be possible mentors is also gamble and a huge time suck.

I am new to the concept of real estate investing and eager to learn more and immerse myself in the community and culture.

To depend on the rates to drop substantially to cover refi cost is a gamble.

You'll need to get good at analyzing rehab costs and predicting after-repair value (ARV) to ensure your margins are solid.To get started, immerse yourself in real estate education—read books, listen to podcasts, and use BiggerPockets to connect with experienced investors.

One learns very quickly and unfortunately usually the hard way that cash tenants are a huge gamble and that section 8 is the only way to find healthy, consistent, positive cash flow in Detroit and many of the other inner cities accross America.