You want someone watching your back here.

-If you are a new investor, just wholesale and watch the flipper to see how things went.

Give me that and watch me work.  

So, you want to watch tenant credit scores, see the default chart below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% PROPERTY VALUES: What are buyers willing to pay for a property? 

As you read these books, watch the BiggerPockets podcasts.

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

While it pains me to say it, I think that if you are patient, and watch that market over the next 12-18 months, you will find yourself in one of the greatest buying opportunities in America. 

The loss of priceless art, jewelry, autos, memorabilia and watches could often match or exceed the property values.

From watching YouTube gurus and listening to BiggerPockets podcasts?

I (barely) watched some of the podcasts cause BP shows up on my youtube feed when I travel.